Wandererfromthenorth
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August 15, 2014, 04:27:26 PM |
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Bitfinex margin calls FLASH CRASH to $1 in 3... 2... 1...
They have already implemented features to prevent this... sorry Well the flash crash that we just saw yesterday to $450 was just basically that.
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adamstgBit
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Activity: 1904
Merit: 1037
Trusted Bitcoiner
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August 15, 2014, 04:28:14 PM |
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Usually a chart like this is fairly bullish. Very strange, the wave keeps going the other way "against" gravity... its become pretty clear to all whatsup so Mr manipulator is thinking "its now or never" i'm thinking the same thing. BUY! People like us rarely buying, there is some panic sell too. I talked some of my friend who want to sell, but I told them to hold. tell your friends when its becomes a good idea to sell bitcoin, its value will already be 0, so theres no use in thinking about selling. also if you sell a highly volatile highly risky investment when its "crashing" you need to go to the bank and ask them to manage your money for you.
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edwardspitz
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August 15, 2014, 04:28:28 PM |
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Huge dumps but price not moving that much. Are dumpers buying coins now I wonder?
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justusranvier
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August 15, 2014, 04:28:58 PM |
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Even deliberate selling to move prices down requires coins. You are putting way too much faith in the integrity of the exchanges and third part wallet services. There is nothing that stops Bitstamp (deliberately or via subversion) from giving sellers infinite paper btc to trade with. They can get away with it as long as most people don't try to withdraw their coins. If they suddenly started making it hard for people to get their bitcoins back, that would be a possible indicator of this. There is also nothing that stops Coinbase from loaning out customer btc deposits to short sellers. We'd never know if they had done so.
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hyphymikey
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August 15, 2014, 04:29:44 PM |
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So cheap yet no one is buying. Makes sense
For every sell there is a buy. If you actually think about it, I win when they sell into my bids. It means I got the price I wanted, not the other way around.
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falllling
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Activity: 112
Merit: 10
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August 15, 2014, 04:31:15 PM |
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So cheap yet no one is buying. Makes sense
fonsie and his friends have asked for "cheap" coins since $680, did they buy? nope, they fool you to buy and sell at the other side mark them as SCAMMERs
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njcarlos
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August 15, 2014, 04:31:40 PM |
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For every sell there is a buy. If you actually think about it, I win when they sell into my bids. It means I got the price I wanted, not the other way around.
I'm not an idiot. If it drops to $10 you could say the same silly argument. The point is that it's not being MAINTAINED at any of the "cheap" points people keep touting. Whether it's $550, $525, or $500. And it'll keep slipping, because to expect ~$1.5million in new capital every single day is preposterous at such an early stage of BTC's life.
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hyphymikey
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August 15, 2014, 04:31:55 PM |
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Bitfinex margin calls FLASH CRASH to $1 in 3... 2... 1...
They have already implemented features to prevent this... sorry Well the flash crash that we just saw yesterday to $450 was just basically that. Yes that was the implementation working. I have many open longs, 2 of which should have closed around 460 and they did not. Therefore a flash crash of closing longs will not happen. The crash to 451 was sells not cascading margins.
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adamstgBit
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Activity: 1904
Merit: 1037
Trusted Bitcoiner
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August 15, 2014, 04:33:52 PM |
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it would be really cool if you can somehow show the amount Bought vs amount Sold for any given period. we could see that there is as much buying ( if not more ) as there is selling here, i think.... would be very valuable piece of info in times like these.
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h3speros
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August 15, 2014, 04:33:58 PM |
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People who are thinking of selling, I would like remind that in daily we are very oversold so there's big risk that you end up sell too cheap. This forum is very bearish in times like these and it can make you do irrational decisions that you end up regretting later. If you have fiat, good, this is great buying opportunity and might get even lower but if you don't have fiat, then i suggest that you hold, at least to the next bounce and even then don't sell all of your coins!
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oda.krell
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Activity: 1470
Merit: 1007
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August 15, 2014, 04:34:37 PM |
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Even deliberate selling to move prices down requires coins. You are putting way too much faith in the integrity of the exchanges and third part wallet services. There is nothing that stops Bitstamp (deliberately or via subversion) from giving sellers infinite paper btc to trade with. They can get away with it as long as most people don't try to withdraw their coins. If they suddenly started making it hard for people to get their bitcoins back, that would be a possible indicator of this. There is also nothing that stops Coinbase from loaning out customer btc deposits to short sellers. We'd never know if they had done so. I really don't understand this... I know you as a reasonable, knowledgeable poster. And, yes, what you describe is a possibility, but so is the claim that the entire 2013 rally was driven by Willy (which I don't believe either, for the record). So why is it so hard to entertain the possibility that we're seeing the breach of the dam as a result of built-up selling pressure? We had a good rally to $680, from there on things started looking difficult, selling pressure was extremely subdued at first (for a number of reasons, but imo, mainly because the "hodl" mantra actually took hold - no pun intended), but without further fiat inflow and subsequent positive price action, it is only a matter of time before the sell-offs kick in. Or am I being naive for considering this the most likely reason for what we're seeing now?
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Schickeria
Member
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Activity: 84
Merit: 10
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August 15, 2014, 04:36:54 PM |
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Even deliberate selling to move prices down requires coins. You are putting way too much faith in the integrity of the exchanges and third part wallet services. There is nothing that stops Bitstamp (deliberately or via subversion) from giving sellers infinite paper btc to trade with. They can get away with it as long as most people don't try to withdraw their coins. If they suddenly started making it hard for people to get their bitcoins back, that would be a possible indicator of this. There is also nothing that stops Coinbase from loaning out customer btc deposits to short sellers. We'd never know if they had done so. I really don't understand this... I know you as a reasonable, knowledgeable poster. And, yes, what you describe is a possibility, but so is the claim that the entire 2013 rally was driven by Willy (which I don't believe either, for the record). So why is it so hard to entertain the possibility that we're seeing the breach of the damn as a result of built-up selling pressure? We had a good rally to $680, from there on things started looking difficult, selling pressure was extremely subdued (for a number of reasons, but imo, mainly because the "hodl" mantra actually took hold - no pun intended), but without further fiat inflow and subsequent positive price action, it is only a matter of time before the sell-offs kick in. Or am I being naive for considering this the most likely reason for what we're seeing now? Agreed. Keep things simple. It's nothing more than normal market development.
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fonsie
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August 15, 2014, 04:37:05 PM |
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So cheap yet no one is buying. Makes sense
fonsie and his friends have asked for "cheap" coins since $680, did they buy? nope, they fool you to buy and sell at the other side mark them as SCAMMERs I did buy yesterday, you idiot. Mark fallling as SCAMMER numéro uno
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hyphymikey
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August 15, 2014, 04:37:30 PM |
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For every sell there is a buy. If you actually think about it, I win when they sell into my bids. It means I got the price I wanted, not the other way around.
I'm not an idiot. If it drops to $10 you could say the same silly argument. The point is that it's not being MAINTAINED at any of the "cheap" points people keep touting. Whether it's $550, $525, or $500. And it'll keep slipping, because to expect ~$1.5million in new capital every single day is preposterous at such an early stage of BTC's life. Trying to maintain the price is how you get beat in this game. You need to spread out your bids, dollar cost average, and hope that your lowest bid is as far as they dump. We can almost guarantee that at some point in the future the price will be higher, so why do I need to prop the price up now, when I can buy coins for even cheaper? I say let them dump, hell, even move your bids down 100 bucks so they get even less fiat for the coins they so desperately want to sell.
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adamstgBit
Legendary
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Activity: 1904
Merit: 1037
Trusted Bitcoiner
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August 15, 2014, 04:37:49 PM |
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Even deliberate selling to move prices down requires coins. You are putting way too much faith in the integrity of the exchanges and third part wallet services. There is nothing that stops Bitstamp (deliberately or via subversion) from giving sellers infinite paper btc to trade with. They can get away with it as long as most people don't try to withdraw their coins. If they suddenly started making it hard for people to get their bitcoins back, that would be a possible indicator of this. There is also nothing that stops Coinbase from loaning out customer btc deposits to short sellers. We'd never know if they had done so. I really don't understand this... I know you as a reasonable, knowledgeable poster. And, yes, what you describe is a possibility, but so is the claim that the entire 2013 rally was driven by Willy (which I don't believe either, for the record). So why is it so hard to entertain the possibility that we're seeing the breach of the damn as a result of built-up selling pressure? We had a good rally to $680, from there on things started looking difficult, selling pressure was extremely subdued (for a number of reasons, but imo, mainly because the "hodl" mantra actually took hold - no pun intended), but without further fiat inflow and subsequent positive price action, it is only a matter of time before the sell-offs kick in. Or am I being naive for considering this the most likely reason for what we're seeing now? i can't believe people read all the good news and sell. people look at the price and sell... this move is purely manipulative.
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N12
Donator
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Activity: 1610
Merit: 1010
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August 15, 2014, 04:38:07 PM |
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Or am I being naive for considering this the most likely reason for what we're seeing now?
Just in case it's not a rhetorical question: No, man, this is happening on multiple exchanges, so whatever we are seeing is real. Of course, there are some who can't accept reality when it doesn't suit them and will try explaining it away with conspiracy "manipulation".
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barbs
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August 15, 2014, 04:38:44 PM |
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buy bitcoin and you'll Risto'll be rich!!
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kireinaha
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August 15, 2014, 04:39:08 PM |
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People who are thinking of selling, I would like remind that in daily we are very oversold so there's big risk that you end up sell too cheap. This forum is very bearish in times like these and it can make you do irrational decisions that you end up regretting later. If you have fiat, good, this is great buying opportunity and might get even lower but if you don't have fiat, then i suggest that you hold, at least to the next bounce and even then don't sell all of your coins!
Just because we switch to "oversold" territory on some arbitrary time frame of the RSI indicator doesn't magically mean that it's going to swing the other way now. You're right though that there is a lot of irrational, "magical" thinking on this forum, especially at times like this. But it's from the bullish posters, not the other way around.
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