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Author Topic: BTC-E crash to $150!  (Read 5946 times)
BlindMayorBitcorn
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July 18, 2015, 11:21:02 AM
 #1

Speculations?

Forgive my petulance and oft-times, I fear, ill-founded criticisms, and forgive me that I have, by this time, made your eyes and head ache with my long letter. But I cannot forgo hastily the pleasure and pride of thus conversing with you.
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July 18, 2015, 11:36:46 AM
 #2

Nothing left to say but "i told you so"...

These short deep crashes will start to occur more and more, first on btc-e, later they will shift to other exchanges.
Just look at the orderbook on btc, even a small dump will hammer the price now.
Sellers will want to move to other exchanges, causing demand there to plummet, the cycle repeats.

Don't say i didn't warn you guys about a huge upcoming crash after the last 'rally'.

14b8PdeWLqK3yi3PrNHMmCvSmvDEKEBh3E
Ibian
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July 18, 2015, 11:44:01 AM
 #3

Individual exchanges don't matter. The average price crashed 5 bucks. Woo.

Look inside yourself, and you will see that you are the bubble.
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July 18, 2015, 11:49:53 AM
 #4


I understand BTC-E is the place to sell stolen coins. And this was a lot of coins...


Au contraire. They actually suspended withdrawals for a bit when the coins nicked from Evolution marketplace turned up there.

http://coinfire.io/2015/03/21/btc-e-suspends-withdraws-to-stop-stolen-coin-dump/

No idea whether it was effective.

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July 18, 2015, 11:51:46 AM
 #5

Nothing left to say but "i told you so"...

These short deep crashes will start to occur more and more, first on btc-e, later they will shift to other exchanges.
Just look at the orderbook on btc, even a small dump will hammer the price now.
Sellers will want to move to other exchanges, causing demand there to plummet, the cycle repeats.

Don't say i didn't warn you guys about a huge upcoming crash after the last 'rally'.

btc-e is shady as fuck i would not trust them with my money, nor i would trust the value on their exchange, it could be for every unimaginable reason like they they are losing users and so they are artificially manipulating it

until it crash on every exchange, any other big negative peak count nothing
BlindMayorBitcorn
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July 18, 2015, 11:58:46 AM
 #6


I understand BTC-E is the place to sell stolen coins. And this was a lot of coins...


Au contraire. They actually suspended withdrawals for a bit when the coins nicked from Evolution marketplace turned up there.

http://coinfire.io/2015/03/21/btc-e-suspends-withdraws-to-stop-stolen-coin-dump/

No idea whether it was effective.

Good point. I remember that. Well somebody wanted out. The fat-finger theory seems far-fetched.

read this news:
-redacted-

You scoundrel. Get yer sketchy links off mah thread Angry

Forgive my petulance and oft-times, I fear, ill-founded criticisms, and forgive me that I have, by this time, made your eyes and head ache with my long letter. But I cannot forgo hastily the pleasure and pride of thus conversing with you.
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July 18, 2015, 01:29:41 PM
 #7

can not be a true sell by a rational actor, as they could get a much better price by using multiple exchanges....so basically meaningless.

Admitted Practicing Lawyer::BTC/Crypto Specialist. B.Engineering/B.Laws

https://www.binance.com/?ref=10062065
Wandererfromthenorth
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July 18, 2015, 01:50:56 PM
Last edit: July 18, 2015, 03:29:11 PM by Wandererfromthenorth
 #8

Same thing that happened on August 2014.



Market maker or other any other major player dumps a big quantity of coins that wipes out an important portion of the whole orderbook which causes a margin cascade of longs closing. Considering that BTC-E is illiquid, this is highly profitable if he has shorts opened that he will soon close/already closed or longs/coins orders at around $150.

Being a shady as hell exchange I wouldn't be surprised if somebody from BTC-E is somewhat responsible himself, having insider info on where all the stops are placed and margin calls would be triggered.

Stop hunts and shenanigans happen in forex everyday, can't see how a shitty anon exchange for magic internet money would be any different.






This, or an Agora drug dealer or admin dumping because he wanted to buy a boat or something.
Still, the results (margin cascade) are the same.



AtheistAKASaneBrain
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July 18, 2015, 02:11:09 PM
 #9

"price crashes!"
Who fucking cares. Hold BTC and we'll be rich in 10 years, anything else and you are being delusional.

https://www.youtube.com/watch?v=_0mykANOMGQ

If you keep looking at a price with a tiny market that's heavily manipulated by whales instead of getting yourself informed and up to date with the technology you'll never make it. You will panic sell before things get mainstream and you'll have a lot of regret. Watch the video and stop caring about the price.
Do that and hold or panic sell already, your life your choice.
belmonty
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July 18, 2015, 02:17:52 PM
 #10

Same thing that happened on August 2014.



Market maker or other any other major player dumps a big quantity of coins that wipes out an important portion of the whole orderbook which causes a margin cascade of longs closing. Considering that BTC-E being illiquid, this is highly profitable if he has shorts opened that he will soon close/already closed or longs/coins orders at around $150.

Being a shady as hell exchange I wouldn't be surprised if somebody from BTC-E is somewhat responsible himself, having insider info on where all the stops are placed and margin calls would be triggered.

Stop hunts and shenanigans happen in forex everyday, can't see how a shitty anon exchange for magic internet money would be any different.






This, or an Agora drug dealer or admin dumping because he wanted to buy a boat or something.
Still, the results (margin cascade) are the same.





The btc-e order book is so thin it wouldn't take that many coins to create a giant crash. On bigger exchanges with more liquidity it would take millions of dollars of coins to dump down to the same price. The only time it recently happened on the big exchanges was in the new year. Btc-e is not big enough to create a significant knock on effect on other exchanges.
White sugar
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July 18, 2015, 02:22:43 PM
 #11

just mr102 back for more fun

nothing to worry about, and it will forgotten before the weekend ends
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July 18, 2015, 02:28:50 PM
 #12

if you are worried about price on a day to day or even monthly basis you probably should not be involved

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July 18, 2015, 02:39:57 PM
 #13

if you are worried about price on a day to day or even monthly basis you probably should not be involved

Except the price tanked by an amount that only happens at a monthly timescale under normal circumstances
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July 18, 2015, 02:44:02 PM
 #14

Well, I don't see the impact or how much damage it could cause with just one exchanger but usually a single crash wouldn't pull the price down for the rest of others. Unless you are talking about a panic sell or some traders taking advantage of the price difference to manipulate the market. Generally I would say it's the sentiment because sometimes people might take that as an indicator.

elux
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July 18, 2015, 03:10:59 PM
 #15

Speculations?

BTC-E did this.
Za1n
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July 18, 2015, 03:22:37 PM
 #16

Something else is going on there. I had left LTC long trades go overnight using their MT4 platform and they were all mysteriously closed, and not due to margin call, they were closed at $3.8501, $3.8500 and one 5 minutes later at $3.78. I also had a bunch of buy limit orders closed that were well below those prices, so even if it were a momentary spike down they should have filled. I didn't lose too much except the profit I was carrying on my longs, but it is very curious as the LTC side didn't really show anything abnormal. I had no positions open in BTC at the time to be impacted by the $150 drop.

I have a support ticket in requesting an explanation as I wasn't closed out due to margin or anything else that I can tell. At this point I suspect either someone was able to gain access to their system and execute a lot of sells or someone on the inside is up to something funny. In any event, I will be moving my funds out of there as soon as I hear back from BTC-e support. In the best case scenario they would re-instate my trades, but I am only expecting a boilerplate response so maybe should pull my money out now before anything else mysteriously happens.
newb4now
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July 18, 2015, 03:24:58 PM
 #17

can not be a true sell by a rational actor, as they could get a much better price by using multiple exchanges....so basically meaningless.

I agree. Even if someone is broke and needs to raise fiat quickly there would seem to be better ways than to dump at those prices
Paashaas
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July 18, 2015, 03:26:57 PM
 #18

Nothing left to say but "i told you so"...

These short deep crashes will start to occur more and more, first on btc-e, later they will shift to other exchanges.
Just look at the orderbook on btc, even a small dump will hammer the price now.
Sellers will want to move to other exchanges, causing demand there to plummet, the cycle repeats.

Don't say i didn't warn you guys about a huge upcoming crash after the last 'rally'.

myself
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July 18, 2015, 03:30:08 PM
 #19

Same thing that happened on August 2014.



Market maker or other any other major player dumps a big quantity of coins that wipes out an important portion of the whole orderbook which causes a margin cascade of longs closing. Considering that BTC-E is illiquid, this is highly profitable if he has shorts opened that he will soon close/already closed or longs/coins orders at around $150.

Being a shady as hell exchange I wouldn't be surprised if somebody from BTC-E is somewhat responsible himself, having insider info on where all the stops are placed and margin calls would be triggered.

Stop hunts and shenanigans happen in forex everyday, can't see how a shitty anon exchange for magic internet money would be any different.






This, or an Agora drug dealer or admin dumping because he wanted to buy a boat or something.
Still, the results (margin cascade) are the same.





imo u are wrong since FXopen only went to 198

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Wandererfromthenorth
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July 18, 2015, 03:41:10 PM
 #20

For anybody interested, here is the official statement from BTC-E owners regarding this and other similar incidents in the past that had losses of customer funds as an unfortunate consequence.



http://languagelog.ldc.upenn.edu/myl/ExpletiveDeficit1.jpg
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