Warning: How many of you Bears have ever been a victim of a Short Squeeze?

[cypherdoc]

BFX already up @310.  that's a built in $10 arbitrage opportunity to Stamp.

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[cypherdoc]

thousands of minnows attacking the whale. what a sight.

[cypherdoc]

knocking it down one bite at a time 

[cypherdoc]

now $11.30 arbitrage with BFX.

[cypherdoc]

now $11.30 arbitrage with BFX.

that's 3.77%

[cypherdoc]

now it's $12.7 or 4.23%

[cypherdoc]

now it's $12.7 or 4.23%

the flip side of this is are you stupid enough to sell on Stampfuck for 4.23% less than what you could sell for on another exchange?

[cypherdoc]

15K Stampfuck

[cypherdoc]

now $13.6 or 4.53% arb with BFX

[JimboToronto]

thousands of minnows piranhas attacking the whale. what a sight.

ftfy  

[cypherdoc]

SpatsMcGee on Reddit made a great point.  Bitcoin days destroyed is down.  coins being sold are "new":

[cypherdoc]

where the hell did all the trolls go?

[chriswilmer]

How much higher do we need to go before we trigger a cascade of closed short positions?

[cypherdoc]

13.64% higher than the 300 wall.  nice job trolls!

RIP Stampfuck.

[resya]

I did not wake you up, cypherdoc.  Why would I?  How would I?  Don't think about it now tho, wait 'til you're better.

Have you called 911 yet?  Is help on the way?

keep selling/shorting, baby.  keep selling...

shorting btc is fun and we all like to accumulate, but if we crash btc to 0 then all the btc we made shorting isn't worth shit.

[Odalv]

yes, that is perfectly reasonable.  but day trading over long periods of time on an unregulated exchange in Slovenia is crazy.

As happy owner of new bitcoins I can confirm that first round was successful. Bitcoins are secured in cold wallet.

[cypherdoc]

man, this must hurt.

[rebel24]

man, this must hurt.

I just came here to say its epic how you are keeping your 3 year old thread rolling, its pretty badass really. Feels good, good times

[notme]

http://bfxdata.com/combined/btc.php

Did someone just close a 5k short and then reopen it shortly after?  That's an insane amount of bitcoin swaps that seemed to move together.

Edit: No trades during that time... perhaps it is a whale who had already closed his shorts trading in his swaps for a lower interest rate... Even if all the selling since then has been this big fish, he still has a lot of dry powder that is burning interest.

[molecular]

I have.  And its not pleasant.  In fact, they are extremely vicious.  Without appropriate risk management, they have the ability to wipe you out.

Imagine the Spring ramp repeating itself while you're holding short.  The mentality has settled in with virtually all the Bears that Bitcoin is done and is going to zero.  They are taking their victory laps and cheering their profits.  This type of mentality is just as bad as the speculative bubble, only in reverse.  

I have most unpleasant news for you.  The Squeeze of the Century is coming.  It may not be tomorrow, next month, or even next year, buts its coming and you will be crushed.  

I know the feeling.  You shorts are probably sleeping less well now while you're making profits than you did before.  Thats because deep down you know the protocol has not failed, you know that 99% of the people want Bitcoin but just don't know it yet, you know the developers are still out there and working on improvements, and you know that big money is waiting on the sidelines for the perfect time to buy and buy hard.

Typically the ramps come in the middle of the night.  You wake up and the price has doubled trapping you deeply in the losing trade.  You wait and wait for the price to come back down but it never does as the price moves upwards incessantly to force you to cover.  The pendulum has swung too far to the wrong side.

Just wait.  Its coming...

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