$162 Bitfinex [2015-AUG-18]

[lissandra]

Bitfinex crash in 1 minute candles:



Price went from 164 to 216 in the same minute.

52 dollar high-low spread on a single one minute candle.

Haven't seen action like this since April 10. 2013.

theres no way a human reaction could of profitted that unless they had some sort of automated system.

within a minute to execute those trades is absurd so imma assume some employee did some insider stuff like the person above mentioned.

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[kwukduck]

Damn, somebody made my day!
Had a bunch of orders just sleeping at 175

What can i say... thanks?!

[smoothie]

A move like this is most likely due to insider trading.  I'm assuming someone inside bitfinex saw an opportunity to crash the market and trigger a majority of margin calls.  A lot of little guys just lost everything so a whale could have a snack.  I hope some lessons in margin trading were learned.

I was thinking the same thing.

Margin trading is poison to me.

[luciann]

I feel like these exchanges are the reason why we need a bigger backed up venture like the twins exchange to be more legit.

Less insider stuff since they have a name to protect, and how they about to launch one soon thank god.

[luckyflop]

WTF is goin on 

[balu2]

Price gonna keep dropping all the way to double digits due to the threat of forking it in two chains.

Can't fool the market with that crap. Could well be the end of Bitcoin if stuff gets out of hand - and it is already.

[brokenchair]

A move like this is most likely due to insider trading.  I'm assuming someone inside bitfinex saw an opportunity to crash the market and trigger a majority of margin calls.  A lot of little guys just lost everything so a whale could have a snack.  I hope some lessons in margin trading were learned.

I was thinking the same thing.

Margin trading is poison to me.

Not like the bitfinex owner, or whomever openly admitted to trading on the exchange or anything a few months ago lol 
Who knows maybe the xt douchers are all short, maybe they are all self rightous morons that think they are saving the world?
I'm not interested in playing catch the falling btc right now.

[kwukduck]

Price gonna keep dropping all the way to double digits due to the threat of forking it in two chains.

Can't fool the market with that crap. Could well be the end of Bitcoin if stuff gets out of hand - and it is already.

Maybe you should educate yourself a bit more about the whole XT thing...
I thought exactly like you, turns out i was very ignorant of what was actually going on..

[luckyflop]

Price gonna keep dropping all the way to double digits due to the threat of forking it in two chains.

Can't fool the market with that crap. Could well be the end of Bitcoin if stuff gets out of hand - and it is already.

Maybe you should educate yourself a bit more about the whole XT thing...
I thought exactly like you, turns out i was very ignorant of what was actually going on..

Double digits means no bitcoins basically

[brokenchair]

Price gonna keep dropping all the way to double digits due to the threat of forking it in two chains.

Can't fool the market with that crap. Could well be the end of Bitcoin if stuff gets out of hand - and it is already.

Maybe you should educate yourself a bit more about the whole XT thing...
I thought exactly like you, turns out i was very ignorant of what was actually going on..

The problem with bitcoiners is they think everyone knows exactly how btc works.  Do you think anyone gives a shit how their car works, tv, or anything else they use; nope.

What is going on, a crazy guy fucking btc, or a sane guy saying how btc is broken and needs to be improved?

So I either get to buy something a crazy guy can fuck with, or I buy something that is broken, and still may not be fixed if it doesn't get enough nodes or whatever.  

What great fucking options!    

[guitarplinker]

A move like this is most likely due to insider trading.  I'm assuming someone inside bitfinex saw an opportunity to crash the market and trigger a majority of margin calls.  A lot of little guys just lost everything so a whale could have a snack.  I hope some lessons in margin trading were learned.

I was thinking the same thing.

Margin trading is poison to me.

On /r/Bitcoin there's a post mentioning that a single user on BitFinex sold of 20,000 of the 30,000 BTC sold during that quick crash, so it sounds like the other 10k were lost due to margin trading, and people panic selling as well.

I'm guessing there are some pretty frustrated people right now who just learnt a difficult lesson about margin trading. On another note though, it was amazing to see how quickly the price dropped. I was lucky to be watching Bitcoin Wisdom right as the price dropped to $162 and then make its way back up to "normal levels" again.

[balu2]

Price gonna keep dropping all the way to double digits due to the threat of forking it in two chains.

Can't fool the market with that crap. Could well be the end of Bitcoin if stuff gets out of hand - and it is already.

Maybe you should educate yourself a bit more about the whole XT thing...
I thought exactly like you, turns out i was very ignorant of what was actually going on..

I know very good about Gavincoin and how full of shit this community is. No need to educate me.


on topic: finex was a whale rage quit obviously. Not finex fault or insider stuff imo. Normal trading action. A whale just dumped on ya and more to come.

[coinableS]

Holy smokes! Volatility is back! I expected a down turn with all the XT nonsense but I never thought it would go this low. Hope some people here were able to get some coins below $200.

[drhelmutp]

https://www.reddit.com/r/Bitcoin/comments/3hj1nh/bitfinex_ceo_interview_just_after_the_flash_crash/

And finex CEO is on our ts answering questions : ts.whaleclub.io

[balu2]

Holy smokes! Volatility is back! I expected a down turn with all the XT nonsense but I never thought it would go this low. Hope some people here were able to get some coins below $200.

XT is going to bring the market to its knees, no doubt. I have orders sitting in low double digits.

Demand for Bitcoin should pretty much collapse imo cuz nobody is that mad buying in this situation except these 5 to 10 hardcore bagholders on this board. Good luck holding up that marketcap with your 5 friends. Time to realize you have been ripped off by Gavin.

[coinableS]

Holy smokes! Volatility is back! I expected a down turn with all the XT nonsense but I never thought it would go this low. Hope some people here were able to get some coins below $200.

XT is going to bring the market to its knees, no doubt. I have orders sitting in low double digits.

That would be awesome to pick up coins that cheap, good luck to you! I'm thinking of putting in a short, but I'm terrible at trading. If I put in a short today the price would launch to $300 tomorrow.   

[Chef Ramsay]

Interesting, glad I have a pocket full of cash that keeps growing to buy some decently marked down coins. Too bad trollypop went silent cause this could and might get even better.

[luckyflop]

Ya but double digits It popped right back up to 235-240 didn't stay down too long

[Fiat_Hodler]

FUCK MY LIFE! HAD BUY ORDER AT 161!!!!!!!!!!!!!

[btccashacc]

The next game will be hit 500$  
still positive thinking