i was looking at bitfinex for a while and it is just absurd...
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it's crazy...like people actually want to lose money
When people throw money at you, accept it with a smile. I expect that nearly everyone here is a long-term bull. I can't think of a justification for btc being in the 400's, except market malfunction. Everything in fundamental analysis is golden. Sentiment analysis changes everyday: moon, hell, moon, hell. Technical analysis seems to be broken most of the time because this such an emotion-driven market. After Dell, Global Payments, the Ebay subsidiary, etc., etc., etc., good news after good news after good news, does it make sense that btc is selling for 495 or 500? I think no. I stopped trading, bought a long term position and will wait for the top. Smile, buy coins, be gracious when the price goes back up. Excellent post. Every trader here knows the market is so thin a few million dollars can move it in any direction. Fundamentals are sound. Price action has dislocated from the fundamentals IMO and is likely oversold. Trying to catch every little draft up and down in a market like bitcoin is crazy. Unless the trend of the last 5 years is finished then bitcoin will sometime soon(ish!) go berzerk again. |
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^ how much?
1 mill, give or take I prefer yachts. I am looking at between 35 and 45 feet. Need to be able to sail it singlehanded - the missus is not capable! |
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Price pushed below psychologically import 500 handle by a small dump on a quiet saturday. Yawn. Back to deciding what boat to buy next.
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The silence from the bear trolls is deafening.
Hopefully a few got caught short today! Time for a squeeze.
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Full disclosure:
I've received the agreed amount of bitcoins from my employer (a very wealthy entrepreneur who took part in the Silk Road auction and requested my services to create an orchestrated FUD campaign so that he could buy in cheap). Good luck all, see you at one thousand dollars!
Welcome to ignore. |
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Just read the last ten pages or so. Sentiment at rock bottom. Trolls doing their thing.
Bottom must be near. Still less than 30 bucks from a 5xx handle.
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i don't know what is worse: this catastrophic price movement (i am losing a fortune) or that those goddammbeartrolls were right.  I am reminded of the line from battlestar galactica, "All this has happened before, all this will happen again". |
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Bubble isn't going to happen... probably never, but it's certainly going to be a long time at least. People cutting their loose now, Much better places to stick your cash for the next 6 months while we wait to see where this goes.
You registered here two days ago. Forgive me if i take every word you write with a pinch of salt. If it isn't going to rise again, why do you want to buy in lower? You can trust me because I bring forth an outsider's view of bitcoin. For the past year, people here have been brainwashed by the echo chamber, they have no ability to think rationally anymore! Fairly sure you are a) not an outsider, and b) probably operate more than one similar account on btc. Who are you really? |
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Bubble isn't going to happen... probably never, but it's certainly going to be a long time at least. People cutting their loose now, Much better places to stick your cash for the next 6 months while we wait to see where this goes.
You registered here two days ago. Forgive me if i take every word you write with a pinch of salt. If it isn't going to rise again, why do you want to buy in lower? |
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This new conspiracy theory contradicts my old theory that Bitcoin is "just" a pilot project. It could be that Bitcoin is the real deal! Because no unregulated altcoin will likely be able to dethrone bitcoin as the leading cryptocurrency. AND, any official cryptocurrency will take YEARS for the politicians to introduce. And bitcoin has already a massive network of computing power. And the Bitcoin technology is innovative and revolutionizing, with a growing number of investors, developers and entrepreneurs.
Alternatively there is a power elite behind it all, and a huge boost for bitcoin will only be used for causing politicians to very quickly introduce an official cryptocurrency. So my old theory may still be valid.
My personal banking conspiracy goes thus: A rogue central or private bank buys up coins off exchange in large numbers - say 100k - 200K. The price does not matter as its a drop in the ocean to a bank like JPM or freshly printed for the CB. Then just do the tried and tested gold rigging manouvre. Good news in the bitcoin ecosystem? Dump. Price reaching technical levels for a breakout ? Dump. Price starting to trickle down ..Dump to scare out recent buyers. When the price hits rock bottom...simply buy off exchange again, say from a large corporate miner for a premium above the market rate, rinse and repeat until bitcoin is finished. Add in some influence in the MSM and pay for internet fora trolling and online sentiment manipulation for good measure. Why are JP Morgan repeatedly trying to patent a similar system to bitcoin? /conspiracy. I think what is happening right now is simply a combination of 1) speculators selling in frustration at lack of bubble, 2) margin calls and stop hunting by whales with deep pockets, 3) momentum traders jumping on board trying to short the hell out of bitcoin + sell out and buy back in lower (how many new active troll accounts are there on here last few weeks?) Currently we seem very oversold and the price is dislocating far from development in the bitcoin ecosystem and the very healthy fundamentals. |
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for all the talk of "short squeezes" on this forum, clearly the real danger from watching BFX and BTCE is leveraging long. we have seen these wipeouts before... and we will see them again, IMO.
Noone can predict the future. But shorting bitcoin at these levels is for people who can move the market or traders who haven't been round the block yet! |
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I still don't get this dump..
Like why did we go from $590 last week to $309 without any big news?
Price driven down by sellers with something to gain. The gain of course is more bitcoin. Expect the price to rise and rise sharply when sentiment on here is at rock bottom. If the price bounces back upwards over the next few weeks and takes 680 then we have a confirmed uptrend which will only be obvious in the rear view mirror. |
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See what I mean  Ha. |
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Why would we be? Has something fundamentally changed with the protocol? Has the US regulatory framework suddenly become hostile towards bitcoin? Has anything fundamentally bad occurred in the bitcoin news sphere? The answer is no because this is technical selling and buying to take money from leveraged minnows and weak handed speculators like you  The only reason you are cheering on any price decline is so you can buy some for yourself. Admit it. that's right, nothing has fundamentally changed with the protocol since last year when each coin was less than $100 in value. So that's where we're headed back to! Why stop there? Nothing has fundamentally changed with the protocol since 2009. Bitcoin to 0? Forget merchant adoption, 1/4 billion vc money, rising transactions and wallet numbers, increasingly secure mining infrastructure. LOL. |
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Hey guys, it is my understanding that with the Bitfinex policy change that you can actually short more than you used to be able to AND the margin calls come slightly earlier. This would be a non-issue if we were still trending up, but keep a look out for this.
You used to be able to get effectively 3.33 leverage on a long by buying bitcoin and then longing with the bitcoin as collateral. However, that equation doesn't work out as unless you can short without a margin account (that I don't know!!!!! So somebody clean up this thought and in the meantime take this with a grain of salt).
On this point... it now says that I have a tradable balance, but it isn't letting me short any further -- it is cutting me off at the old 2.5 leverage mark despite the system showing the change. =S UPDATE... system caught up... was able to short all the way. If you really are a newbie be careful with leverage. Most people (myself included) have been burned by the market whipsawing or hitting stops with huge unexpected moves. Bitcoin is scary volatile. Good luck! |
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wow, you got owned pretty hard right there nagle  Ouch. It must have hurt reading that faulty analysis again. We all make mistakes - I opened my blockchain.info account in mid 2012 but couldn't find an easy way to buy btc so left it till early 2013. Still smarts to this day haha. |
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LOL. bears/newbie trolls really trying hard on here last few days.
Oh yeah sure. I'll quote this over and over when we are at 95$.... NEXT WEEK Why would we be? Has something fundamentally changed with the protocol? Has the US regulatory framework suddenly become hostile towards bitcoin? Has anything fundamentally bad occurred in the bitcoin news sphere? The answer is no because this is technical selling and buying to take money from leveraged minnows and weak handed speculators like you The only reason you are cheering on any price decline is so you can buy some for yourself. Admit it. |
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Why should anyone listen to a newbie with 12 posts?
This bear newbie is right. The bubble is popping. People start to understand that this level of price doesn't mean anything. NEXT STEP ==> 100$ and below. LOL. bears/newbie trolls really trying hard on here last few days. |
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see? no one wants over-value bitcoin, bitcoin is going to nowhere but down! massive market crash incoming even you refuse to admit it
You want it you dishonest fuck. |
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This user is currently ignored. Bliss. |
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