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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: August 19, 2014, 10:13:48 PM
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i wish someone could explain to me this in english, I understand that a short is betting that it will go down, long the opposite, but how does it work in detail? can someone give me an example? like they were explaining it to a 5 year old? lol.  Why does it matter that there are 7300 shorts? because thats a shit ton? Short: Somebody borrows bitcoins and sells them. Later he will buy bitcoins at lower price and returns them to the lender + interest. Long: Borrow $$ then buy BTC and sell them later. On Bitfinex, they have a claim option. If you buy 10 coins at $100, and the price goes up $20, you have $200 profit (10 coins x 20 USD). You can sell 8 coins, and use the $200 profit to "claim" the remaining 2 coins at the original $100 price. This means you don't necessarily have to sell all of the original 10 coins. this just sounds so damned confusing, lol and extremely risky..But very profitable if you guessed the right way. Also, this only works by borrowing either coins or money, right? there needs to be a class on this somewhere, lol.. bitfinex explains it like you already know what you are doing.. It is gambling, and you can lose everything with 1 bad decision. If you are at maximum leverage on Bfx, it only takes a 20% drop to wipe you out. "only" a 20% drop. Bitcoin volatility in a nutshell  |
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125
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Economy / Service Discussion / Re: Bitnz Offline? down for maintenance
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on: August 12, 2014, 01:40:24 AM
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Some information here: http://www.reddit.com/r/NZBitcoin/comments/2dak6a/bitnz_announcement/bitNZ Announcement (self.NZBitcoin) submitted 14 minutes ago by djpnewton On Monday, 11 August 2014 at 3am NZ time, ~39 bitcoins were stolen from bitNZ. Our email relay service provider was hacked which enabled the attacker to view all outgoing emails. The attacker used this information to reset user passwords and intercept the password reset email. If the user did not have 2FA the attacker was able to log on as the user and initiate a withdrawal. At the moment I am still analysing the the event and making sure the vulnerability is plugged (revoke email relay access, reset passwords/api-keys, purge sessions, check if user emails were modified etc). I need to take the time to do this thoroughly so please have some patience. You can contact me at contact@bitnz.com or ask questions on this thread. I am going to cover the loss. If you would like to donate to help here is the address 1NAVXrA8NnXURzdFNLf79p8YoLPBBfwnFi (qrcode) |
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127
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: July 22, 2014, 06:50:26 PM
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Bids on Stamp look healthy. 1000 BTC to 620$ ; 3000 BTC to 610$. Ready to lift off. We also have a very similar fractal compared with the 430$ breakout.
TO THE MOON
is this a Fonzie I see before me?  It´s even worse. I used snakesoil sale tactics to lure in 3 friends of mine to invest altogether 45k$ into the BTC scheme in the the last 2 weeks. I´m bullish as fuck( and of course ALL IN)!!!  Oh shit, Fonzie is a bull, BTC prices must be going down!!!!! This is only the second time I remember this happening. I'm pretty sure the last time he was bullish the price dropped and he said he'd never do it again |
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133
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Economy / Speculation / Re: wow, bitcoin's astro birth chart is full on!
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on: June 16, 2014, 09:27:58 AM
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wow, I really wish you to enjoy your new life, I am a bit jealous somehow I hope someday that my small amount of Litecoin will be worth something so I can afford a better life well done man. +1 Sounds like an amazing lifestyle. The closest I've come to seeing a sky like that was fishing at midnight from a boat in our nearby harbour, the only light pollution from the nearest city 60km away. Hardly any man-made light visible and the sky was beautiful. Shooting stars were frequent. edit: if you fall ill you'd better hope that ambulance is pulled by something faster than a horse! |
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