Funzie
Newbie
 Offline
Activity: 4
Merit: 0
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August 17, 2014, 11:02:19 PM |
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The recent low seems to be the fallback price of the miners. I doubt we will go lower than that as many miners must be mining at a loss already - with even more and more hashing power coming online shrinking their income.
Sellers don't care about miners. |
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Bitcoin addresses contain a checksum, so it is very unlikely that mistyping an address will cause you to lose money.
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Newbie1022
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August 17, 2014, 11:02:33 PM |
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Hey guys, it is my understanding that with the Bitfinex policy change that you can actually short more than you used to be able to AND the margin calls come slightly earlier. This would be a non-issue if we were still trending up, but keep a look out for this.
You used to be able to get effectively 3.33 leverage on a long by buying bitcoin and then longing with the bitcoin as collateral. However, that equation doesn't work out as unless you can short without a margin account (that I don't know!!!!! So somebody clean up this thought and in the meantime take this with a grain of salt).
On this point... it now says that I have a tradable balance, but it isn't letting me short any further -- it is cutting me off at the old 2.5 leverage mark despite the system showing the change. =S |
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Newbie1022
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August 17, 2014, 11:05:36 PM |
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Hey guys, it is my understanding that with the Bitfinex policy change that you can actually short more than you used to be able to AND the margin calls come slightly earlier. This would be a non-issue if we were still trending up, but keep a look out for this.
You used to be able to get effectively 3.33 leverage on a long by buying bitcoin and then longing with the bitcoin as collateral. However, that equation doesn't work out as unless you can short without a margin account (that I don't know!!!!! So somebody clean up this thought and in the meantime take this with a grain of salt).
On this point... it now says that I have a tradable balance, but it isn't letting me short any further -- it is cutting me off at the old 2.5 leverage mark despite the system showing the change. =S UPDATE... system caught up... was able to short all the way. |
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inca
Legendary
Offline
Activity: 1176
Merit: 1000
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August 17, 2014, 11:08:27 PM |
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Hey guys, it is my understanding that with the Bitfinex policy change that you can actually short more than you used to be able to AND the margin calls come slightly earlier. This would be a non-issue if we were still trending up, but keep a look out for this.
You used to be able to get effectively 3.33 leverage on a long by buying bitcoin and then longing with the bitcoin as collateral. However, that equation doesn't work out as unless you can short without a margin account (that I don't know!!!!! So somebody clean up this thought and in the meantime take this with a grain of salt).
On this point... it now says that I have a tradable balance, but it isn't letting me short any further -- it is cutting me off at the old 2.5 leverage mark despite the system showing the change. =S UPDATE... system caught up... was able to short all the way. If you really are a newbie be careful with leverage. Most people (myself included) have been burned by the market whipsawing or hitting stops with huge unexpected moves. Bitcoin is scary volatile. Good luck!  |
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Chuckee
Member
Offline
Activity: 70
Merit: 10
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August 17, 2014, 11:10:16 PM |
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Why would we be? Has something fundamentally changed with the protocol? Has the US regulatory framework suddenly become hostile towards bitcoin? Has anything fundamentally bad occurred in the bitcoin news sphere? The answer is no because this is technical selling and buying to take money from leveraged minnows and weak handed speculators like you The only reason you are cheering on any price decline is so you can buy some for yourself. Admit it. that's right, nothing has fundamentally changed with the protocol since last year when each coin was less than $100 in value. So that's where we're headed back to! |
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Newbie1022
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August 17, 2014, 11:11:27 PM |
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Hey guys, it is my understanding that with the Bitfinex policy change that you can actually short more than you used to be able to AND the margin calls come slightly earlier. This would be a non-issue if we were still trending up, but keep a look out for this.
You used to be able to get effectively 3.33 leverage on a long by buying bitcoin and then longing with the bitcoin as collateral. However, that equation doesn't work out as unless you can short without a margin account (that I don't know!!!!! So somebody clean up this thought and in the meantime take this with a grain of salt).
On this point... it now says that I have a tradable balance, but it isn't letting me short any further -- it is cutting me off at the old 2.5 leverage mark despite the system showing the change. =S UPDATE... system caught up... was able to short all the way. If you really are a newbie be careful with leverage. Most people (myself included) have been burned by the market whipsawing or hitting stops with huge unexpected moves. Bitcoin is scary volatile. Good luck! I put a stop just over 515!! =D Thanks for the concern, though. Solid note. |
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inca
Legendary
Offline
Activity: 1176
Merit: 1000
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August 17, 2014, 11:21:40 PM |
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Why would we be? Has something fundamentally changed with the protocol? Has the US regulatory framework suddenly become hostile towards bitcoin? Has anything fundamentally bad occurred in the bitcoin news sphere? The answer is no because this is technical selling and buying to take money from leveraged minnows and weak handed speculators like you The only reason you are cheering on any price decline is so you can buy some for yourself. Admit it. that's right, nothing has fundamentally changed with the protocol since last year when each coin was less than $100 in value. So that's where we're headed back to! Why stop there? Nothing has fundamentally changed with the protocol since 2009. Bitcoin to 0? Forget merchant adoption, 1/4 billion vc money, rising transactions and wallet numbers, increasingly secure mining infrastructure. LOL. |
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David M
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August 17, 2014, 11:26:17 PM |
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Selling at the bottom of the channel?  Good luck. |
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edwardspitz
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August 17, 2014, 11:28:05 PM |
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Last chance to close shorts before things kick off?
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Newbie1022
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August 17, 2014, 11:32:22 PM |
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Nevermind... Bitfinex pulled my short order after it had posted... wtf is going on?
Sorry for what will seem like spreading FUD... but seriously, wtf is going on?
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ssmc2
Legendary
Offline
Activity: 2002
Merit: 1040
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August 17, 2014, 11:36:38 PM |
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It's a good omen that the bottom is in when your screen is filled with user is ignored posts from all new accounts.
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Newbie1022
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August 17, 2014, 11:39:05 PM |
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Bitfinex is not putting through shorts properly. Something is seriously awry. Call it FUD all you want. You've been warned. We are getting played.
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ssmc2
Legendary
Offline
Activity: 2002
Merit: 1040
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August 17, 2014, 11:40:38 PM |
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See what I mean  |
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inca
Legendary
Offline
Activity: 1176
Merit: 1000
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August 17, 2014, 11:41:55 PM |
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See what I mean Ha. |
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Newbie1022
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August 17, 2014, 11:42:07 PM |
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They pulled another short at $500. The system is f---ing up.
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Miz4r
Legendary
Offline
Activity: 1246
Merit: 1000
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August 17, 2014, 11:45:02 PM |
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Nevermind... Bitfinex pulled my short order after it had posted... wtf is going on?
Sorry for what will seem like spreading FUD... but seriously, wtf is going on?
How about you take this matter to Bitfinex support and not spam this thread full of this crap? |
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Raystonn
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August 17, 2014, 11:45:19 PM |
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The majority on the poll were right.
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mah87
Donator
Hero Member
Offline
Activity: 756
Merit: 500
-Bitcoin & Ripple-
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August 17, 2014, 11:51:25 PM |
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Better buy some cheap XRP while you can RippleLabs cofounder said: "Ripple Labs is probably around 65 people. Our current office is now very cozy. We'll be moving soon. We have people working out of a New York space. Additionally, we're opening an office in Luxembourg. The rippled team alone is 11 people with another C++ engineer and a product manager starting next week. Ripple Labs is in talks with many, many major financial firms, lots of regulators, and even central banks. Ripple Labs is changing the financial landscape. Ripple Labs might easily have over a hundred banks on board within the next year. I'm very proud of the team we have. We are far beyond my wildest expectations when I originally started this version of Ripple." https://ripple.com/forum/viewtopic.php?f=1&t=7577#p54772 |
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Newbie1022
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August 17, 2014, 11:56:23 PM |
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Nevermind... Bitfinex pulled my short order after it had posted... wtf is going on?
Sorry for what will seem like spreading FUD... but seriously, wtf is going on?
How about you take this matter to Bitfinex support and not spam this thread full of this crap? I am writing them right now. I don't want people to get hurt... that's all. I am aware of how it looks that I am writing this and that worries me. But, just a few minutes ago BitFinex was trading almost 30 over China so there is circumstantial evidence to back my claim. Sorry, I just want you guys to know when something is going on. Somebody, in my separate topic, posted that BitFinex is the next Gox and I really don't believe that. They just changed their policy in the past few hours and it is a glitch. Simple growing pains and in the long-term not that big of a deal. For the few guys on here who are day traders though, I want them to know what's going on. |
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keewee
Legendary
Offline
Activity: 1025
Merit: 1000
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August 17, 2014, 11:56:41 PM |
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The majority on the poll were right.
Hmmm but will it hold? |
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