Overleveraged buffoon creates biggest Mexican standoff in Altcoin history

[illodin]

What's the latest regarding this episode?

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[DecentralizeEconomics]

What's the latest regarding this episode?

Obviously, he became a multimillionaire fighting the good fight.

[tokeweed]

Who's the buffoon again?

[Habeler876]

Who's the buffoon again?

Currently he is unhappy as the market is not agreeing to his long position. Such is the fickle nature of altcoin markets.

[tokeweed]

Who's the buffoon again?

Currently he is unhappy as the market is not agreeing to his long position. Such is the fickle nature of altcoin markets.

I thought the guy who started to short 3 - 4 weeks ago was the buffoon.

[r0ach]

Think he actually bought after he imploded the market, yet he spent too much money imploding the market for any other people to have confidence in buying back in.

[tokeweed]

Think he actually bought after he imploded the market, yet he spent too much money imploding the market for any other people to have confidence in buying back in.

'Bought' meaning he covered his shorts.

[Peachy]

Maybe he's "revenge trading".

He doesn't know how any of these coins work and thought the price just went up for no reason and shorted it.  He doesn't know the price will probably be stable somewhere between 0.00003000 to 0.00009000 after BTS 2.0 release and thinks he can just stall the market here until he wins.

Current price: 0.00001825 as of Oct15-2015

20 years of investment experience here:
Careful going against shorts and any hedge fund as they generally know what they're doing.

Just from looking at the supply/demand (volume) vs. price chart view it's still in a condition of:

Sell (if you haven't already way before now)
Don't buy (if you were thinking of doing so)

Buying on the way up is my preferred method only.

I resist buying on the way down as the old saying proves true nearly every time:  Don't try to catch a falling knife as you'll usually wind up running out of fingers.

[bitsire]

Overleveraged buffoon creates biggest Mexican standoff in Altcoin history

Sharp trader profits handsomely from buffoons buying Bitshares

FIFY

[tokeweed]

Overleveraged buffoon creates biggest Mexican standoff in Altcoin history

Sharp trader profits handsomely from buffoons buying Bitshares

FIFY

ROFLOLMAO!

[LucyLovesCrypto]

Think he actually bought after he imploded the market, yet he spent too much money imploding the market for any other people to have confidence in buying back in.

'Bought' meaning he covered his shorts.

Sounds like he/she was able to cover the short at lower prices. That means the trade was profitable!

[tokeweed]

Think he actually bought after he imploded the market, yet he spent too much money imploding the market for any other people to have confidence in buying back in.

'Bought' meaning he covered his shorts.

Sounds like he/she was able to cover the short at lower prices. That means the trade was profitable!

Very much so.  So meaning he knew that the Larimers or someone from the inside would be dumping.  I doubt it's from BTS' supporters.  It has to be someone from the inside.  Not saying this as fact, just stating that it is highly highly probable as the altcoin scene = penny stock scene.  Insiders usually have the edge.

[Spoetnik]

he says he made $24,000 ?
yeah right.. prove it LOL
i bet what ever he made if he was ahead he reinvested then is down by now..
i say how much you made is how much you cashed out.. not just because you were up at the poker table for an hour ahahah

[brekyrself]

is CMC still including bts 1.0 prices from exchanges who never upgraded?  This would skew the overall price where people are dumping bts 1.0 shares on victims willing to buy on exchanges who never upgraded.

[DecentralizeEconomics]

he knew that the Larimers or someone from the inside would be dumping.  I doubt it's from BTS' supporters.  It has to be someone from the inside.  Not saying this as fact, just stating that it is highly highly probable

Big shock.

[vaporware asset wizard]

did the buffoon make r0ach look like a dick?

[r0ach]

did the buffoon make r0ach look like a dick?

I didn't lose any money.  I bailed out while 40% up because the level of manipulation was far too high.  I stayed in as long as I could.  If I was just in it for short term profits, could have made 100% but I wanted to stay in for it go to higher.  There was far too much manipulation for me to be comfortable staying in.  It was the most manipulated market I've ever seen in my life.  We're talking 200-300btc buy support added then removed constantly over and over to try and force shakeouts and pumps.  I wasn't going to put up with that much crap.

The people doing it is a group of Vietnamese with 500+ btc and a bot.  They're probably the scammiest dirtbags I've ever seen in crypto.  Having Cagara trying to manipulate with 1000btc on top of their completely idiotic barrage of manipulation tactics just made everyone exit because the risk was too high.

[tokeweed]

did the buffoon make r0ach look like a dick?

I didn't lose any money.  I bailed out while 40% up because the level of manipulation was far too high.  I stayed in as long as I could.  If I was just in it for short term profits, could have made 100% but I wanted to stay in for it go to higher. There was far too much manipulation for me to be comfortable staying in.  It was the most manipulated market I've ever seen in my life. We're talking 200-300btc buy support added then removed constantly over and over to try and force shakeouts and pumps.  I wasn't going to put up with that much crap.

The people doing it is a group of Vietnamese with 500+ btc and a bot.  They're probably the scammiest dirtbags I've ever seen in crypto.  Having Cagara trying to manipulate with 1000btc on top of their completely idiotic barrage of manipulation tactics just made everyone exit because the risk was too high.

Very much like penny stocks.  The good traders profit, it's the investors aka buy and holders who suffer.  But the ones in the know aka the insiders will always have the biggest edge.

[r0ach]

Almost seems like the Poloniex mods are in on it.  Either that or they're just not very smart.  They ban people from chat for even using the word "manipulate", yet this group of Vietnamese with like 10 people in a chatroom toss out their shorts, pull buy support, then start spamming trollbox in Engrish, "Coin die now, sell everyting, coin go zero" with 10 of them in chat.  Of course zero of them ever get banned, yet I got banned before for telling Poloniex they should disable margin because none of the markets have enough liquidity for it.

[tokeweed]

Almost seems like the Poloniex mods are in on it.  Either that or they're just not very smart.  They ban people from chat for even using the word "manipulate", yet this group of Vietnamese with like 10 people in a chatroom toss out their shorts, pull buy support, then start spamming trollbox in Engrish, "Coin die now, sell everyting, coin go zero" with 10 of them in chat.  Of course zero of them ever get banned, yet I got banned before for telling Poloniex they should disable margin because none of the markets have enough liquidity for it.

So if a group comprised of 10 Vietnamese can manipulate a market of a legit project like Bitshares, what more the other projects?  But what is 'legit' in the altcoin scene in the first place?

Again very much like penny stocks.  Lot's of hyping, pump and dumps and scheming going on.

edit:  And I wouldn't be surprised if people from the inside of Bitshares, Banx, etc.. were involved in hyping and pumping the coin.  Not saying they are, but this is common practice in penny stocks.  Happening under the SEC's 'watchful' eyes mind you.  What more in an unregulated market place?