$DXY back down into the consolidation zone. bad news (depending on how you look at it). probably go all the way back down to bottom @73 and probably thru it.
this and the UST selloff are good reasons for stocks, commods to rally (i'm long and happy). also gotta look out for pm's and miners (i'm flat).
Very bad for the USD. There's a lot of anecdotal information implying the US will covertly backstop (or already is) the EFSF via the IMF. If proven true... Let's just say I'm now deliciously long AUD, CAD, CHF (doubled up from earlier position @ USD$0.90) and SGD. Along with Bitcoin, those are my play positions (and the only investments that have any kind of leverage). Forex is for fun! No worries on the PMs and miners, I'm all in. Also bought AEM just under $44 on the 24th - can't say no to a solid dividend at a discount. Same with FCX at a PE < 7 and another hefty dividend - madness! The analysis on Bitcoin applies just as well to gold/silver for the foreseeable future. Let's all build our futures out of the ashes of fallen empires.  ah, a merging of the minds. singularity?  edit: oh gaud, what the hell am i thinking?  |
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1. Dow futures UP monster +255
2. USD down big back into the consolidation channel and moving lower
3. oil futures up a big 3.60%
4. gold and silver UP
5. copper up 6 std deviations in price!
6. GDP prints biggest QonQ jump since Q4 2009.
did i say RISK ON? smash the shorts.
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Where can we find the net short positions on Zhoutong's exchange? Chicago Mercantile Exchange or something will announce such statistics
Thanks in advance.
His argument is that these details will reveal too much about Bitcoinica's vulnerability, because there's literally two exchanges. Without knowing enough about how all this works, I suspect he's right. But that's giving the man a lot of credit where he's earned only some. we have way too many Bitcoin theorists around here arguing that speculative capital and early adopter hoarding is destructive to the economy.
Oh the fucking irony. "Shhhh, no speculative behavior, here!!" yes, bought silver btwn $9-12 and sold at $44. bought gold at $550 and sold btwn $1550 and $1650. nice healthy returns all plowed into Bitcoin. play money.
if you really understood how money works and that we are in the depths of a fiat currency crisis you would understand that gold/silver were fundamental investment plays. most around here do understand that except you. i also never said i wasn't a speculator. personally i don't care about parsing the diff categories. i prefer to say i'm a money infuser into Bitcoin. how's that work? |
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theres alot of USD's lined up to buy Bitcoin and its spread across the entire bid mountain. nothing fake about this. where the hell are the shorts?
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this is exactly right. new money infused into the economy will help merchants as well as the price and ultimately Bitcoins success. we have way too many Bitcoin theorists around here arguing that speculative capital and early adopter hoarding is destructive to the economy. this is nonsense and demonstrates a lack of understanding of how markets work.
what is needed is an influx of new money whether it be from speculators, investors, or merchants start up capital. this will improve the economy and i would argue a slowly rising price of Bitcoin would create a virtuous upward spiral of everything Bitcoin related.
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in fact, all you guys are working off this theory that Bitcoin has to have a stable price to enable merchants to succeed. how quickly you forget how many merchants got off and running when the price was steadily rising earlier this year.
you guys don't understand markets. i would argue the best thing for Bitcoin merchants would be if the price starts rising steadily from here. the cloud would lift, optimism would reappear, and businesses would start flourishing. speculative money would return to the community and many Bitcoin projects/businesses would be able to get off the ground. what the community needs is money be it speculative or investment and that will only come if the price stops falling.
i think we've bottomed on the price. just watch the optimism return if the price starts to go up toward its natural equilbrium which is higher than here.
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Where can we find the net short positions on Zhoutong's exchange? Chicago Mercantile Exchange or something will announce such statistics
Thanks in advance.
you're not serious are you? his is a private exchange accountable to no one but himself. no stats except for him. |
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$DXY back down into the consolidation zone. bad news (depending on how you look at it). probably go all the way back down to bottom @73 and probably thru it. this and the UST selloff are good reasons for stocks, commods to rally (i'm long and happy). also gotta look out for pm's and miners (i'm flat).  |
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nice, slow, and controlled pain.
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Thanks Zhoutong,
I see my stops get triggered much more easily than I intend. I'm curious if you are willing to discuss your thought on spreads, your risk margins, cut, future volume:spread expectations, etc. I fully respect your need and desire to make money. I wonder, however, if you wouldn't make more money by reducing your rake. I strongly believe I (and most any active trader) would make more trades (by an order of magnitude or two) if the spread were one half or a quarter.
I lost about 25 USD today in spurious stop being triggered :/ (and my huge 1000+ USD loss was when I did not put a stop, specifically because I was annoyed with spurious stops). I wonder if somethign can be done about that... ! |
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I'm lost. Is this thread about which direction Bitcoin's exchange rate is going, or an attempt at figuring out what BitMagic's holdings are?
+1 You should ask Cypherdoc. In fact, every thread of Cypherdoc is the same: attack short-sellers and Bitcoinica because it allows margin trading. Take a look. Wow, one of each! thats alot.  in fact, only 2 threads ever started on the Spec Board. that is severe trolling. i'm sorry they've gotten so much attention. in great part to you. |
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"The biggest individual holders of gold—central banks, international entities and governments—are believed to account for approximately 16.5 percent of the world's gold, holding about 30,700 tons." http://www.cnbc.com/id/33242464/The_World_s_Biggest_Gold_Reserves?slide=1and these are the entities most interested in NOT seeing the price of gold rise. and yet you are seeing record levels of investment from individuals, funds, etf's, speculators, etc. all risking a huge selloff from the CB's/gov'ts. why then should you fear the large holders of Bitcoin all of whom probably want to see the price rise? You're not getting it. GOLD is a COMMODITY. thats funny. there are alot of gold bugs out there who would call it real money which would encompass currency. USD is a CURRENCY.
BITCOIN is meant to be a CURRENCY, but is currently seen as a COMMODITY because of the risk associated with it.
What I have been saying all along is that if Bitcoin is to be seen as a stable currency, there can't be any risk factors, and it must be trustable. Risk factors can be mitigated by increased usage and adoption, but the trust issue will always be there as long as a single person or small group of people owns a significant portion of it. People who want to see Bitcoin as an investment don't mind the risk of someone selling out (just like the gold example you mention above), but people who want to see Bitcoin as a currency will be pushed away by the looming possibility of someone manipulating the currency value with their large holdings of it.
well there certainly aren't any stable currencies that exist in the world today and yet we all use them. Bitcoin b/c of its fixed supply has a better chance in the long run to be the most stable of all if you have the vision. but since you seem to have it all figured out please don't bother to respond. |
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PLEASE, PRETTY PLEASE, short into this.  |
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the absolute amt of money across the entire bid mountain, not just the wall @$2.40, has grown enormously today in direct relation to the number of mtgoxlive users logged in this AM. the BUYERS are coming in and are ready to pounce and become early adopters.
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i might just take you up on that.
actually i've decided i'm rooting for you now at the expense of the shorts @Bitcoinica. i hope you tighten that algorithm up so tight that guys like BitMagic get bitch slapped on the next few spikes UP.
he's a dummy not realizing that its you or him in an illiquid delayed situation where you have all the power. i can't wait.
What makes you think I only hold short positions? I know you're mad that people are making money where you can't. It's ok, because I am enjoying watching you act like a child. you sir are a DUMBSHIT. from the Zhoutonged thread: https://bitcointalk.org/index.php?topic=49445.msg594444#msg594444so we have ascertained you have long and short positions at Bitcoinica and are overall net short. why don't you just take the net position and put on the short? the classic long/short setup usu involves 2 different assets like the Dow and Gold. the hedger knows these usu move together and for the last 10 yrs or so Gold moves up faster when they both go up and the Dow goes down faster when they both go down. so the setup would be to be long Gold and short the Dow. you are long/short the exact same asset in a leveraged, illiquid environment where being Zhoutonged in either direction continuously will eat up your acct in no time. at the very best most of your positions just offset each other but due to stupidity its much worse than that. what an IDIOT! |
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the BIDWALL continues to grow!
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notice the long term MACD on a rising trendline with a recent crossover UP. this is strengthening.  |
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Understanding capital flows will help bolster your confidence. Right now, there is very little external wealth flowing into or out of Bitcoin. After a period of time, which looks to be relatively short-lived, there is a high likelihood that Bitcoin will resume its gradual ascent in relation to other currencies that are becoming less desirable. Patience. It can take years for the fundamentals to play out. I don't want to wait years for my 15 bitcoins to be worth $5 each again. or it could take 3 mo. |
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