RationalSpeculator
Sr. Member
Offline
Activity: 294
Merit: 250
This bull will try to shake you off. Hold tight!
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September 23, 2013, 02:02:32 PM |
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Unbelievable.
As bullish as investors were only a week ago when profits were the highest ever, many now turn into bears withdrawing their investment, ofcourse after serious losses have already been made.
Whale(s) took 8000 btc past week (profit down from +6000 btc to -2000 btc), investors took another 12,000 btc out (investment down from 50,000 btc to 30,000 btc).
The same happened the other way around. For every 1000 btc profit made investment went up with 2000/3000 btc. Ofcourse after the profit was already made...
If you want to make money you really do have to be fearful when others are brave, and brave when others are fearful.
If you start doubting the fundamentals, discipline yourself to wait for an uptick before leaving the position. This way you protect yourself from panic selling.
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thy
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September 23, 2013, 02:47:46 PM |
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Hot wallet is out of funds, withdraws don't go throu at the moment.
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Deprived
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September 23, 2013, 02:50:17 PM |
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Unbelievable.
As bullish as investors were only a week ago when profits were the highest ever, many now turn into bears withdrawing their investment, ofcourse after serious losses have already been made.
Whale(s) took 8000 btc past week (profit down from +6000 btc to -2000 btc), investors took another 12,000 btc out (investment down from 50,000 btc to 30,000 btc).
The same happened the other way around. For every 1000 btc profit made investment went up with 2000/3000 btc. Ofcourse after the profit was already made...
If you want to make money you really do have to be fearful when others are brave, and brave when others are fearful.
If you start doubting the fundamentals, discipline yourself to wait for an uptick before leaving the position. This way you protect yourself from panic selling.
Some withdrawals (e.g. mine) will be for unrelated reasons - i.e. BTC-TC closing. With that happening the DMS investment had to be pulled as part of getting it fullt liqud (and with a fixed NAV/U) and my own had to be pulled because a lot of my other liquid BTC was used in buying my own securities out fast at full value and I have other commitments I need to meet in the short-term.
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xchrisxsays
Member
Offline
Activity: 98
Merit: 10
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September 23, 2013, 04:15:49 PM |
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Well... If anyone was watching the last hour... Holy shit.
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Jls.
Newbie
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Activity: 34
Merit: 0
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September 23, 2013, 04:22:20 PM |
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Well... If anyone was watching the last hour... Holy shit.
And the day is not over !
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ajolly
Newbie
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Activity: 58
Merit: 0
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September 23, 2013, 04:36:48 PM |
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Woo, I'm not *quite* as much in the red
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Rampion
Legendary
Offline
Activity: 1148
Merit: 1018
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September 23, 2013, 04:58:26 PM |
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Best quote: I'm not a gambler as you might think Yeah, sure, LOL
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RationalSpeculator
Sr. Member
Offline
Activity: 294
Merit: 250
This bull will try to shake you off. Hold tight!
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September 23, 2013, 05:02:23 PM |
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Best quote: I'm not a gambler as you might think Yeah, sure, LOL lol
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qxzn
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September 23, 2013, 05:48:51 PM |
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holy %$*!sticks volatility
fun!
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xchrisxsays
Member
Offline
Activity: 98
Merit: 10
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September 23, 2013, 08:10:14 PM |
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So... surely something has to change.
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GOB
Member
Offline
Activity: 94
Merit: 10
Come on!
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September 23, 2013, 08:12:33 PM |
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Well, Nakowa (as 'Cake') just took the site down to -5000 BTC profits. This was what he said when he finished: 17:07:39 (145625) <cake> Maths is on my side. I hope I've proved 1% house edge is very dangerous... a long day's work. I just wanted to leave a record of it here. I don't actually have an opinion on this 1% vendetta he has. I'm still wondering if he has the server seeds and I will stay divested until I'm convinced he doesn't.
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"Bitcoin is to bank transfers, credit cards & Paypal, as Email is to letters, faxes & FedEx." 1BAMFrk1qJai5u7UnrhDXoBudGwbYynams
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drawingthesun
Legendary
Offline
Activity: 1176
Merit: 1015
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September 23, 2013, 08:18:29 PM |
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4500 + (6400 -> - 5000 = 11,400)
= 16,000
Nakowa is now 16,000 bitcoin up.
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elm
Legendary
Offline
Activity: 1050
Merit: 1000
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September 23, 2013, 08:23:41 PM |
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read my lips - this is unreal
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andrew12
Member
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Activity: 67
Merit: 10
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September 23, 2013, 08:24:48 PM |
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drawingthesun
Legendary
Offline
Activity: 1176
Merit: 1015
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September 23, 2013, 08:27:28 PM |
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If you want a positive. It is possible people will divest back down to 20,000 invested and then Nakowa may lose it all. This would represent a 50% gain for all investors that are still invested at that point.
Of course the negative is the site goes below 1000 coins before Nakowa goes broke and he gets bored because there is no money left on the site to win. Then its over.
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Bugpowder
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September 23, 2013, 09:17:41 PM |
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Here is a simulation of someone betting the max bet on JD with an unlimited bankroll. After 2,000 max bets, how far up or down might they be? What would be the peak profit during that time? This is relevant for determining how lucky Nakowa is. Nakowa is up about 50 max bets at the moment, off of around 2000 max bets wagered. Matlab code n= 50000 cutoff = 50 bets = sign(rand(n,2000)-.505); outcomes = sum(bets,2);
sum(outcomes>cutoff)/n sum(outcomes<cutoff)/n
intBets = cumsum(bets,2); peak = max(intBets,[],2);
sum(peak>cutoff)/n sum(peak<cutoff)/n
%%
figure(1);clf;set(gcf,'paperposition',[0 0 8 6]) hist(outcomes,50) hold on plot([cutoff cutoff],[0 5000],'r-') ylabel('Number of outcomes') xlabel('Profit (number of max bets above zero)') title('Results of 2000 consecutive max bets, unlimited bankroll, (50,000 simulations)') text(55,4000,['Chance of exeeding = ' num2str(sum(outcomes>cutoff)/n)])
print(gcf,'-depsc', 'MaxBets1')
figure(2);clf;set(gcf,'paperposition',[0 0 8 6]) hist(peak,50) hold on plot([cutoff cutoff],[0 6000],'r-') ylabel('Number of outcomes') xlabel('Peak profit (number of max bets above zero)') title('Results of 2000 consecutive max bets, unlimited bankroll, (50,000 simulations)') set(gca,'xlim',[0 max(peak)]) text(55,5000,['Chance of exeeding = ' num2str(sum(peak>cutoff)/n)]) print(gcf,'-depsc', 'MaxBets2')
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themagicdrake
Newbie
Offline
Activity: 50
Merit: 0
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September 23, 2013, 09:27:42 PM |
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Here is a simulation of someone betting the max bet on JD with an unlimited bankroll. After 2,000 max bets, how far up or down might they be? What would be the peak profit during that time? This is relevant for determining how lucky Nakowa is. Nakowa is up about 50 max bets at the moment, off of around 2000 max bets wagered.
so...you're saying there's a chance?
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