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Author Topic: Warning: How many of you Bears have ever been a victim of a Short Squeeze?  (Read 41073 times)
proudhon
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January 02, 2012, 12:27:29 AM
 #421


This is most certainly temporary.  Bulls are going to get mauled in the coming days and weeks.  Sorry guys.

Just wanted to highlight this gem Smiley Proudhon was not just certain, but "most certain."


I think what I got wrong there was the timeframe.  I think in the coming months this will get corrected.  I'm still a fundamentals bear.
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January 02, 2012, 12:34:01 AM
 #422


good one Doc

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ineededausername
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January 07, 2012, 10:14:45 PM
 #423

Looking back, we've been through about 10 squeezes since cypherdoc made this thread.   Grin

(BFL)^2 < 0
Otoh
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January 08, 2012, 12:04:41 AM
 #424

its ok.  double bottoms are not uncommon.  the blockchain marches on.

RISK ON!  LOL

Any day now the money is going to come pouring in, you'll see, you'll see...

Yes all those investors just sitting around waiting for the right moment to dump millions into bitcoins.  Reminds me of that hilarious post cypher made earlier in this thread.  

Quote
i can easily see professional investors looking over the table:

Q:  whats this over here, Bitcoin?  i thought it was done?

A:  no, still hanging around.

Q:  didn't it get hacked?

A:  the exchange did but the source code didn't.

Q:  is Gavin still around?

A:  yes.

Q:  how about those other guys, Stefan Thomas, Amir Taaki, and Jeff Garzik?

A:  they're still there too.

Q:  God, i thought they would've given up by now if Bitcoin really was a ponzi.

A:  nope.

Q:  any improvements in security?

A:  tons.  consumers are now protected by encryption and mtgox hasn't suffered another attack.

Q:  really?  how much is it now?

A:  $2

Q:  you're kidding.  didn't you say it acts like gold?  a limited supply?

A:  yes

Q:  well, our gold/silver plays aren't doing so well.

A:  lets pour a few million into Bitcoin.  its oversold and maybe we can get a short squeeze going.

ANY DAY GUYS THINK POSITIVE!

That day is here.

good call, I followed the herd's historical ruminations of what's likely to happen over the holiday period that time & shorted with increasing leverage from the 22nd Nov to the 1st Dec 2011, I'd lost $567 before I closed the position out

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sadpandatech
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January 08, 2012, 12:07:08 AM
 #425


That day is here.

good call, I followed the herd's historical rumenations of what's likely to happen over the holiday period that time & shorted with increasing leverage from the 22nd Nov to the 1st Dec 2011, I lost $567 before I closed out

sorry to hear that, m8. None of us really know. So, would have been just as likely that you could have went long then and it could have crashed just the same. hedge both sides when it gets volatile like this.

and don't give up!

cheers

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January 08, 2012, 12:17:02 AM
 #426

None of us really know. So, would have been just as likely that you could have went long then and it could have crashed just the same. hedge both sides when it gets volatile like this.

and don't give up [on BTC ;-)]!


+1

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Otoh
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January 08, 2012, 12:18:01 AM
 #427

lol, for sure if I'd have gone long it would have crashed - the bitcoin gods just seem to love sticking it to me, every time that I buy there'll be an almost instant price spike down & visiversa, I did see the light though & went long from before xmas with increasing leverage & though nearly wipped out on a big buy at the then $5.50 top before a reverse just managed to hold the position enough to clear my previous losses & then some, so it's all good - at least atm & on paper (unrealised profits)

edit: ps this is just gambling, I'm totally long on bitcoin as holding over 6 times that as permanent investment & would have been much more except for a recent income that fell through - bitcoin gods again, as soon as I decide to up my stake by 10 times the price promptly doubles, I like to think of it as a kind of test of faith or initiation & maybe they'll treat me better further down the road

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cypherdoc
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January 08, 2012, 12:32:34 AM
 #428

this is where technical analysis becomes handy despite all the naysayers.  we had a declining wedge down to the $2 level.  it slowly started leveling out via the indicators revealing declining selling pressure.  you could see the momentum beginning to change.

also, inspection of the bid ask walls was instructive.  go back thru this thread and re read my warnings.  especially the one about the bid wall @$2.  lots of ppl around here called them fake.  they aren't.  you have to put up real money on mtgox to build a wall and ppl don't do it lightly b/c they can be hit by a market order before u can pull it down.

the best thing mtgox ever did for the community was to eliminate dark orders.  everything now is transparent unlike the Spring.

i remember seeing that massive wall form at $2.  i immediately sat up and wired a shitload of USD's to mtgox to join that wall.  i don't remember exactly what the total amount of the wall ($150K i think) was but it was huge in comparison to the ask walls.  

it was clear a line was being drawn in the sand and i helped make it.  guys like Revalin will call that manipulation but i see it differently.  the fundamentals of Bitcoin are there and those of us who recognize that took advantage of what clearly was an oversold price.
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January 08, 2012, 12:41:49 AM
 #429

oh, the other thing that was obvious, to me at least, was that Bitcoinica had come online in September with short selling. 

sprayed all over the forum were guffaws from the shorts high fiving about all the profits they'd made which was an indication of everyone on the same side of the boat.
Otoh
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January 08, 2012, 12:48:42 AM
 #430

yep I was buying then too as long term buy & hold, for example:


Bought 8 Oct 2011 - Intersango

36.364 @ $4.28

Balance 526 BTC

Bought 8 Oct 2011 - Intersango

40 @ $3.89
31.6 @ $3.89

Balance 598 BTC

Bought 17 Oct 2011 - Intersango

50 @ $3.15
100 @ $1.57 (even though the price on MTG never fell below $2.26)

Balance 748 BTC

Bought 22 Oct 2011 - Intersango

253.93 @ $3.14

Total Balance 1,002 BTC

I just thought as everyone (nearly) was predicting a drop over the end of 2010 holiday period that it would become self fulfilling especially with bitcoinica to leverage the sentiment, when it became obvious that new money was jumping in instead I switched horses & thankfully am back in the black there just holding without any leverage for now

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January 14, 2012, 06:45:55 AM
 #431

How many?
RyNinDaCleM
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January 14, 2012, 06:54:26 AM
 #432

How many?

You do this again? It seems you're always "testing" Zhou's algo.  Cheesy

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January 14, 2012, 06:58:10 AM
 #433

How many?

You do this again? It seems you're always "testing" Zhou's algo.  Cheesy

it wasn't me this time.  there are alot more big whales now diving deep and scooping up the lemmings who are dumping.
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January 14, 2012, 07:14:14 AM
 #434

anyone shorting Bitcoin doesn't have a clue what's going on in the real world:

http://www.financialsense.com/contributors/chris-puplava/2012/01/13/finally-equity-markets-and-credit-markets-in-harmony-again

we are about to enter a new Bull market in stocks.  we're up 20% since 10/4/11 and going higher.

credit is easing despite whats happening in Europe.  that means investors are looking for promising cheap plays. 

with Bitcoin having been oversold and still underpriced, the fiat money flow is going to be enormous.
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January 14, 2012, 02:22:33 PM
 #435

anyone shorting Bitcoin doesn't have a clue what's going on in the real world:

http://www.financialsense.com/contributors/chris-puplava/2012/01/13/finally-equity-markets-and-credit-markets-in-harmony-again

we are about to enter a new Bull market in stocks.  we're up 20% since 10/4/11 and going higher.

credit is easing despite whats happening in Europe.  that means investors are looking for promising cheap plays. 

with Bitcoin having been oversold and still underpriced, the fiat money flow is going to be enormous.

I agree on the big rally potential for bitcoins as you know.

I disagree on the stock market. We may just have seen the top for years to come. Maybe the SPX touches 1300 next week as one more high and then it will fall like a stone.

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Otoh
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January 14, 2012, 02:26:19 PM
 #436

How many?

if you meant me I'm holding > 1,500 BTC long term now

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August 10, 2013, 10:57:22 PM
 #437

Try again in a year or so. Smiley

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August 11, 2013, 12:34:41 AM
 #438

... but this is very timely now. This is from the era of pirateat40 and his massive BTC short play. With hindsight we now know how it is playing out. Now here is the interesting part what will be the BTC / USD exchange rate by the time the US courts finish passing judgement on pirateat40? This may well set the record for a "short squeeze".

Concerned that blockchain bloat will lead to centralization? Storing less than 4 GB of data once required the budget of a superpower and a warehouse full of punched cards. https://upload.wikimedia.org/wikipedia/commons/8/87/IBM_card_storage.NARA.jpg https://en.wikipedia.org/wiki/Punched_card
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August 11, 2013, 01:07:44 AM
 #439

... but this is very timely now. This is from the era of pirateat40 and his massive BTC short play. With hindsight we now know how it is playing out. Now here is the interesting part what will be the BTC / USD exchange rate by the time the US courts finish passing judgement on pirateat40? This may well set the record for a "short squeeze".

Face it fishing out the lastest novelty and attributing it as the next thing that will bring us "to the moon" doesn't work any more. I would even say pirate got demystified, his absolutely pathetic performance and the little gain he got out of his crime sheds a light onto the bitcoin "economy" and reveals it for what it is. A bunch of layered investment schemes, with the majority represented in this very forum.

The only thing that brings us up is: New cash and more of it. Again wait for the gox debatable to play itself out then see if we get capitulation and then we can talk about it.

tl;dr Bulls won't move until they want to.


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August 11, 2013, 01:20:16 AM
 #440

The wheels of justice move very slowly, and if there are appeals this can go on for years.

Concerned that blockchain bloat will lead to centralization? Storing less than 4 GB of data once required the budget of a superpower and a warehouse full of punched cards. https://upload.wikimedia.org/wikipedia/commons/8/87/IBM_card_storage.NARA.jpg https://en.wikipedia.org/wiki/Punched_card
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