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Riddikulo
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August 20, 2014, 06:50:59 AM |
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This is killing me!
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Newbie1022
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August 20, 2014, 06:52:58 AM |
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This is killing me!
Yes. This week has seriously been unhealthy. Ice cream, popcorn, and not sleeping. Before that I had a great exercise routine going. |
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ChartBuddy
Legendary
 Offline
Activity: 2660
Merit: 2364
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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August 20, 2014, 06:59:33 AM |
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adamstgBit
Legendary
Offline
Activity: 1904
Merit: 1038
Trusted Bitcoiner
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August 20, 2014, 07:04:04 AM |
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Someone is definatelly dumping A LOT of coins. But I don't think it's manipulation now. Just someone with a lot of coins to dump, look at the 1k ask wall at 2940 on HooBoy and he dumped few k to bring it down accross major exchanges. If someone is willing to give up coins at these prices i'll gladly take as many as i can  Looks like the overall sentiment is that bitcoin is undervalued and market wants to go up. BFX longs lost 12MM or 30% (i think BFX did an amazing job controlling that avalanch), and shorts are up by like 2k BTC. All indicators are pointing up, lets see how many coins Mr Dump has, if it's Gox's coins this might take a while how about now? |
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ErisDiscordia
Legendary
Offline
Activity: 1133
Merit: 1163
Imposition of ORder = Escalation of Chaos
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August 20, 2014, 07:06:47 AM |
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I had to take three months off when the train left without me, but I'm back, Baby. I still have the cash from when i foolishly dumped and now I'm ready to get back in the game asoon and this next crash makes it cheap enough. This many shorts get squeezed when it's over and it'll go to up like a rocket, but it's likely to get worse before it gets better.
welcome back. Together with Proudhon and Rampion I've now spotted three of my favorite posters in the last two days. Good times, don't even care about the price drops now  |
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Hunyadi
Legendary
Offline
Activity: 1281
Merit: 1000
☑ ♟ ☐ ♚
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August 20, 2014, 07:08:11 AM |
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This is killing me!
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jeezy
Legendary
Offline
Activity: 1237
Merit: 1010
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August 20, 2014, 07:15:14 AM |
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Someone is definatelly dumping A LOT of coins. But I don't think it's manipulation now. Just someone with a lot of coins to dump, look at the 1k ask wall at 2940 on HooBoy and he dumped few k to bring it down accross major exchanges. If someone is willing to give up coins at these prices i'll gladly take as many as i can Looks like the overall sentiment is that bitcoin is undervalued and market wants to go up. BFX longs lost 12MM or 30% (i think BFX did an amazing job controlling that avalanch), and shorts are up by like 2k BTC. All indicators are pointing up, lets see how many coins Mr Dump has, if it's Gox's coins this might take a while There are still a lot of stolen/auctioned coins around and the long stall could be a motivator for one or more of those people to dump some % of their stash. My guess is that it will go down more probably around 350-400 and then go up slowly first, then gaining more speed up quickly towards new years eve. |
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lay785
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August 20, 2014, 07:35:54 AM |
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This is killing me!
Yes. This week has seriously been unhealthy. Ice cream, popcorn, and not sleeping. Before that I had a great exercise routine going. same except ive been doing arbitrage like mad. |
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Dotto
Legendary
Offline
Activity: 981
Merit: 1005
No maps for these territories
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August 20, 2014, 07:42:03 AM |
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I have a fleeting suspicion that the next margin that will be hunted will be LTCs rather than BTCs... I'd imagine more than a few people went long on LTC because they figured its short-term bounce back would be a greater percentage than BTC.
Im very skeptical with LTC, short and long term. Your theory makes sense |
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billyjoeallen
Legendary
Offline
Activity: 1106
Merit: 1007
Hide your women
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August 20, 2014, 07:44:52 AM |
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I had to take three months off when the train left without me, but I'm back, Baby. I still have the cash from when i foolishly dumped and now I'm ready to get back in the game asoon and this next crash makes it cheap enough. This many shorts get squeezed when it's over and it'll go to up like a rocket, but it's likely to get worse before it gets better.
Did you really take 3 months off, or were you a closet chart watcher? I once took a whole week off... Terrifying. I don't recommend it. I was watching to see if I was going to have a chance to come back in. I wish my account was at BTC-e so I'd be loaded back up already. I'll repeat what I said three month's ago: the best way to know the bear market is over is with a retest of the ~$340 low on higher volume. Volume is the key. |
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lay785
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August 20, 2014, 07:45:35 AM |
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why is bitfinex trading at btce price and not stamps?
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Wandererfromthenorth
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August 20, 2014, 07:52:18 AM |
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Told ya we were going down  Bottom will be at $400-$390 in a few days. THEN you'll have to buy |
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molecular
Donator
Legendary
Offline
Activity: 2800
Merit: 1023
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August 20, 2014, 07:57:25 AM |
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Does anyone have an explanation on who keeps lending fresh BTC on bitfinex for those shorts?
An interest rate of 0.0055 %/day (2% annual) doesn't seem worth the risk to me.
after BTC swaps shot to 8k BTC, an hour ago there was only miniscule amount available. Now there's again ~ 1000 BTC available to borrow at flash rate of 0.0055 %/day. wtf. who in his right mind is doing this???
wild theory: maybe those are just finexBTC being lent?
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ChartBuddy
Legendary
Offline
Activity: 2660
Merit: 2364
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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August 20, 2014, 07:59:35 AM |
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billyjoeallen
Legendary
Offline
Activity: 1106
Merit: 1007
Hide your women
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August 20, 2014, 07:59:43 AM |
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why is bitfinex trading at btce price and not stamps?
It's trading between the two. I suspect BTC-e which is usually a bit lower had a few short term profit takers when their deep orders got filled in the crash to $309. Lucky bastards. Stamp is what I consider the true spot price. the others, even though I have an account and bitfinex, are weighted less. It pisses me off that we never got any resolution in China. Now I'm always going to be looking for a goxxing from hooboy. |
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rezurect
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August 20, 2014, 08:06:32 AM |
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Damn, squeezed out my long, which has been open for months.I was in @ around 430.
309@btc-e.
Out of position. cant get back in now.
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Carsiden
Newbie
Offline
Activity: 5
Merit: 0
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August 20, 2014, 08:10:21 AM |
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Does anyone have an explanation on who keeps lending fresh BTC on bitfinex for those shorts?
Could it be any of the more commercial mining operations that don't want to liquidate their daily BTC in expectation of future rises but need to turn their mining earnings into fiatvaluation for taxation and corporate finance and tax reasons? |
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FattyMcButterpants
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August 20, 2014, 08:22:46 AM |
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Damn, squeezed out my long, which has been open for months.I was in @ around 430.
309@btc-e.
Out of position. cant get back in now.
ouch. why would you keep it open for so long? after the cascade on Bitfinex a few days back, i'd have thought it was time to close all leveraged longs given the spike to $100~ in february. sorry, that sucks.  |
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Newbie1022
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August 20, 2014, 08:27:37 AM |
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Does anyone have an explanation on who keeps lending fresh BTC on bitfinex for those shorts?
An interest rate of 0.0055 %/day (2% annual) doesn't seem worth the risk to me.
after BTC swaps shot to 8k BTC, an hour ago there was only miniscule amount available. Now there's again ~ 1000 BTC available to borrow at flash rate of 0.0055 %/day. wtf. who in his right mind is doing this???
wild theory: maybe those are just finexBTC being lent?
Holy s---, hahahaha... they are at 8000 now. WTF?  ? I mean, that's terrible news, but it is such a ridiculous number that it is quite funny. Anybody know if the sells from those coins have already hit the market? Is that already priced in? Or, could they have those coins on the sideline to dick around with? |
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thefunkybits
Legendary
Offline
Activity: 1218
Merit: 1000
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August 20, 2014, 08:34:07 AM |
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Does anyone have an explanation on who keeps lending fresh BTC on bitfinex for those shorts?
An interest rate of 0.0055 %/day (2% annual) doesn't seem worth the risk to me.
after BTC swaps shot to 8k BTC, an hour ago there was only miniscule amount available. Now there's again ~ 1000 BTC available to borrow at flash rate of 0.0055 %/day. wtf. who in his right mind is doing this???
wild theory: maybe those are just finexBTC being lent?
Perhaps a large market maker who doesn't mind throwing around 100s or 1000s of BTC simply to provide liquidity at all times A few candidates come to mind: Tim Draper Circle Keiser/Exante Winklevoss |
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