Looks like this will be our new trading range for a while...  You're basing the bottom of a trading range on a single spike? |
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Can red flag events and Zhou's claim of guaranteed liquidity both exist?
Red flag - one-sided guaranteed liquidity Normal - full guaranteed liquidity If you have a short position when no buying red flag happens - full guaranteed liquidity If you have a long position when no selling red flag happens - full guaranteed liquidity I had a long position recently when the red flag was on the buy button. I was sad that I couldn't buy more BTC at a price lower than my base price. Is this not a valid concern or problem for your guaranteed liquidity? Thank you for trying to answer, its entirely possible I just dont understand some of the vocabulary. But they can't pull more money out of thin air. If they are out of money, they are out of money. And they need to keep some reserves to make sure shorts are still allowed to close their positions. That's why the red-flag sometimes prevents guaranteed liquidity on one side. Being out of money on a guaranteed liquidity site is an oxymoron. Right? A disclaimer is probably in order on this point. Agreed. |
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Can red flag events and Zhou's claim of guaranteed liquidity both exist?
Red flag - one-sided guaranteed liquidity Normal - full guaranteed liquidity If you have a short position when no buying red flag happens - full guaranteed liquidity If you have a long position when no selling red flag happens - full guaranteed liquidity I had a long position recently when the red flag was on the buy button. I was sad that I couldn't buy more BTC at a price lower than my base price. Is this not a valid concern or problem for your guaranteed liquidity? Thank you for trying to answer, its entirely possible I just dont understand some of the vocabulary. But they can't pull more money out of thin air. If they are out of money, they are out of money. And they need to keep some reserves to make sure shorts are still allowed to close their positions. That's why the red-flag sometimes prevents guaranteed liquidity on one side. Being out of money on a guaranteed liquidity site is an oxymoron. Right? What it really means is that they give guaranteed liquidity for at least 50BTC blocks, which means that if your limit order gets hit, you will trade at least 50BTC and not only 20BTC for example. Zhoutong, please correct me if I'm wrong. If there's a red-flag, no more trading on that side is allowed until it is gone. (With the exception of closing old positions of course) |
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Can red flag events and Zhou's claim of guaranteed liquidity both exist?
Red flag - one-sided guaranteed liquidity Normal - full guaranteed liquidity If you have a short position when no buying red flag happens - full guaranteed liquidity If you have a long position when no selling red flag happens - full guaranteed liquidity I had a long position recently when the red flag was on the buy button. I was sad that I couldn't buy more BTC at a price lower than my base price. Is this not a valid concern or problem for your guaranteed liquidity? Thank you for trying to answer, its entirely possible I just dont understand some of the vocabulary. But they can't pull more money out of thin air. If they are out of money, they are out of money. And they need to keep some reserves to make sure shorts are still allowed to close their positions. That's why the red-flag sometimes prevents guaranteed liquidity on one side. |
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How about you just untie yourself from MtGox. You've become a dog wagging tail and while I personally find nothing wrong with it, so long as you advertise very clearly your lack of funds when people deposit money (rather than when they attempt to liquidate), if you want to make people here happy, you're going to need to operate more like a dark pool.
Im glad im not the only one that sees this need.. I will launch a poll about that. Great! This could be huge! (In a good way!) |
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 Nice guys, nice.  Amazing how stupid people are...  |
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 We still haven't broken the strong uptrend that started this huge rally from the low of 2$, so that's definitely a good thing. It's been a very strong trend so far, and we have already bounced off of it multiple times (The red arrows). We were overdoing it, though, with the very steep trendline from ~4,20 up to over 7. It simply wasn't sustainable, and once it was broken (Blue arrow) we dropped like a stone, but we overshot due to the many forced liquidations. Where we're going next? I'm not sure. We still have room to go lower without breaking the longer trend, but then again, this was also a pretty massive correction, so we don't necessarily have to go lower. Interesting times ahead! |
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I'm not sure what to think anymore. The * at the buy side on Bitcoinica isn't looking good. Too many longs again? Are they _that_ stupid? Another long squeeze incoming? *Sigh*
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Such a thing already exists with Bit-Pay... They hedge every sale, so that they don't lose money on price fluctuations (That's why Bitcoinica is IMO a good thing, they allow hedging! Although they shouldn't allow such a high leverage to prevent shit like what happened today.). They allow merchants to quote their prices in USD and receive USD. Although it requires a 3% fee, it's still a much better than the fees associated with credit cards, and there's no risk of chargebacks!
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Hi I'm Mushoz. And I'm a bull. I'm trying to stay off of the leverage, but it keeps on calling me. I'm addicted. (I lost 600$  ) |
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We do need Mtgox, but we need other big exchanges as well. And Mtgox needs to get their shit together.
Aaaaand Mtgoxlive is down again. They can't get anything right today =/
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the dreaded double ** keeps popping up. what the hell does that mean?
Mtgox' API is going wacky all the time. All the charting sites are having trouble as well in getting reliable feed. If the feed isn't reliable, Bitcoinica prevents any trading from happening until the feed is back up. by then the market could have moved way beyond reasonable. didn't i say this? Yeah agreed. It's idiotic Mtgox is handling millions of dollars a week, yet they can't even get their API right... Unbelievable. |
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This Account Has Been Suspended. Does "this" mean me or does "this" mean him?  Getting the same message, so it definitely isn't you. |
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the dreaded double ** keeps popping up. what the hell does that mean?
Mtgox' API is going wacky all the time. All the charting sites are having trouble as well in getting reliable feed. If the feed isn't reliable, Bitcoinica prevents any trading from happening until the feed is back up. |
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He is shorting 17k with USD as leverage, he did not cause a 170k dump  I disagree, this is certainly possible, the weakness on the tape was palpable...just needed a push Don't you think we might have seen 170k in extra volume today had there actually been a 170k coin dump? Look at his numbers on the screenshot and tell me whether you see 170k coins anywhere. People are actually saying 170k dump was _not_ needed. There was actually a lot less needed to dump the price to these levels and cause a panic sell. That's why 17k USD with some leverage was enough to cause this crash. Except it wasn't, because as I said, I know at least another guy who was a lot more short than this guy. This might have triggered bitcoinica to balance its books and dump onto mtgox, but the guy in the screenshot didn't have that much of an effect. Yeah, but when did the other guy start his position? Because the order book used to be a LOT less shallow a few days ago, so it wouldn't effect the market nearly as much as it did now, because the order book was so shallow. Also, did he go short in one go, or did he slowly build up his huge short position? Big difference there as well. The OP went short in one big dump. |
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He is shorting 17k with USD as leverage, he did not cause a 170k dump I disagree, this is certainly possible, the weakness on the tape was palpable...just needed a push Don't you think we might have seen 170k in extra volume today had there actually been a 170k coin dump? Look at his numbers on the screenshot and tell me whether you see 170k coins anywhere. People are actually saying 170k dump was _not_ needed. There was actually a lot less needed to dump the price to these levels and cause a panic sell. That's why 17k USD with some leverage was enough to cause this crash. |
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I wouldn't blame the people who made this happen, it's just as much if not more the fault of the people who lost their money going long leveraged at Bitcoinica because of the Good Wife episode. The sharks simply took advantage of this and profited. I hope people learn from this and understand that it doesn't require a fortune to do this in the Bitcoin market. This will always be possible in the future, be very careful when doing anything leveraged.
Bitcoinica is turning me back into a long-term bear. The fact that this will always be possible with bitcoinica is a good reason not to trust bitcoin as a good medium of exchange or store of value. Newcomers to bitcoin should understand this, and I think if they do, they probably won't jump in. Yes, but the same thing is possible in reverse by squeezing shorts. The * is at the sell side now. By your logic, you should be neither bear nor bull, and be just in fiat and leave Bitcoin alone completely. |
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DAMMIT every TIME I go to sleep price drops like fifty cents
Please stop sleeping!  |
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The site still seems to be badly malfunctioning. I just sold about 25 BTC that I had been holding long at an average profit of about 0.11 each - the orders appeared to execute, but no profit was added to my Account balance figures on the right side of the screen. All the numbers remained unchanged.
This system does not seem ready to use, it should have big red warnings all over ...
Did you close your entire position or only partially? You won't get your profits until you've closed your position entirely. |
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