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Author Topic: Confirmed: Bitcoinica sold at $1.994  (Read 3490 times)
Crypt_Current
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November 17, 2011, 05:45:03 PM
 #21

Thanks, also has the leverage been reduced globally or have I received a margin call? It only shows 2.5 now..

If you get a margin call, you'll know it -- a big reddish-pink box will pop up at the top of the page explaining in detail your margin call.

This happens when your net value falls below 2x your maintenance.

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November 17, 2011, 06:01:44 PM
 #22

i kinda feel bad for people getting liquidated but swimming always makes me feel better.



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November 17, 2011, 06:04:29 PM
 #23

Bid 1.7 1496.03
Bid 1.75 3472.8
Bid 1.8 21956.05
Bid 1.85 2873.66
Bid 1.9 10857.26
Bid 1.95 2099.6
Bid 2 4532.92
Bid 2.05 570.77
Bid 2.1 23670.31
Bid 2.15 3589.13
Bid 2.2 2329.81

No manipulator, than explain the bid wall in red, which is normally 50,000. See how he tries and pushes the price higher by placing his bid wall, than he pushes it with smaller bidwalls above his big one. The 2.15 and 2.2 bid walls, were created by him to push the price higher. He probably bought some to get those up.

He will than move his huge bid wall up higher as he slowly pushes the price higher.

This is pure manipulation to get the price higher. Why would he want the price higher if he wanted to just buy them to hold? The reason is he holds now at least 200,000 to 500,000 in bought bitcoins. I have seen his bid walls get sold into numerous times. Even with bitcoinica selling those 25K coins, he bought most of them. I have seen many of his 10K bid walls get taken right down. He is trying to protect his huge bitcoin investment and is very desperate at this point.

It is so easy to see his tactics, just keep checking Mt. Gox. charts to see him in action.




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Crypt_Current
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November 17, 2011, 06:09:02 PM
 #24

Bid 1.7 1496.03
Bid 1.75 3472.8
Bid 1.8 21956.05
Bid 1.85 2873.66
Bid 1.9 10857.26
Bid 1.95 2099.6
Bid 2 4532.92
Bid 2.05 570.77
Bid 2.1 23670.31
Bid 2.15 3589.13
Bid 2.2 2329.81

No manipulator, than explain the bid wall in red, which is normally 50,000. See how he tries and pushes the price higher by placing his bid wall, than he pushes it with smaller bidwalls above his big one. The 2.15 and 2.2 bid walls, were created by him to push the price higher. He probably bought some to get those up.

He will than move his huge bid wall up higher as he slowly pushes the price higher.

This is pure manipulation to get the price higher. Why would he want the price higher if he wanted to just buy them to hold? The reason is he holds now at least 200,000 to 500,000 in bought bitcoins. I have seen his bid walls get sold into numerous times. Even with bitcoinica selling those 25K coins, he bought most of them. I have seen many of his 10K bid walls get taken right down. He is trying to protect his huge bitcoin investment and is very desperate at this point.

It is so easy to see his tactics, just keep checking Mt. Gox. charts to see him in action.



I had thought Bitcoinica was responsible for that, but I suppose I'll have to go back to the drawing board.

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November 17, 2011, 08:36:16 PM
 #25


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November 17, 2011, 08:51:05 PM
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I liked the roller coaster one better before you changed it.
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November 17, 2011, 08:54:05 PM
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I liked the roller coaster one better before you changed it.

A drunk robot seemed more appropriate.

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November 17, 2011, 09:21:28 PM
 #28

Saw some people discussing about the "manipulator" sold below $2.

It's not the manipulator, but Bitcoinica.

Thanks for the openness.

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November 18, 2011, 12:38:30 AM
 #29

Saw some people discussing about the "manipulator" sold below $2.

It's not the manipulator, but Bitcoinica. Our system liquidated a lot of positions at the price around $2.

That explains a lot of the strange trading activity we see.  I would bet most trading on MtGox is program driven with scant human oversight.

It's ironic that a Utopian commodity/currency designed for freedom is being heavily affected by high frequency trading, short trading, and other tricks the 1% on Wall Street use.

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Crypt_Current
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November 18, 2011, 12:45:05 AM
 #30

Saw some people discussing about the "manipulator" sold below $2.

It's not the manipulator, but Bitcoinica. Our system liquidated a lot of positions at the price around $2.

That explains a lot of the strange trading activity we see.  I would bet most trading on MtGox is program driven with scant human oversight.

It's ironic that a Utopian commodity/currency designed for freedom is being heavily affected by high frequency trading, short trading, and other tricks the 1% on Wall Street use.

Freedom?  Everyone's free to use whatever tools are available to help them get all the bitcoins they can.  If my resources were such that I could afford more mining power, and / or solar power to run it, I probably wouldn't have to use bitcoinica or even trade at all.

But BTC is the future and I'll be damned if I'm left behind this time.

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November 18, 2011, 01:59:22 AM
 #31

Saw some people discussing about the "manipulator" sold below $2.

It's not the manipulator, but Bitcoinica. Our system liquidated a lot of positions at the price around $2.

That explains a lot of the strange trading activity we see.  I would bet most trading on MtGox is program driven with scant human oversight.

It's ironic that a Utopian commodity/currency designed for freedom is being heavily affected by high frequency trading, short trading, and other tricks the 1% on Wall Street use.

Freedom?  Everyone's free to use whatever tools are available to help them get all the bitcoins they can.  If my resources were such that I could afford more mining power, and / or solar power to run it, I probably wouldn't have to use bitcoinica or even trade at all.

But BTC is the future and I'll be damned if I'm left behind this time.

Solar power is the most expensive form of energy generation as it stands now. It shouldn't be since sunlight is the most abundant form of energy in the world and a fraction of a percentage of the worlds sunlight could satisfy the entire worlds energy needs. Especially given the current economics, mining with solar power is just plain silly.
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November 18, 2011, 02:50:00 AM
 #32

It's ironic that a Utopian commodity/currency designed for freedom is being heavily affected by high frequency trading, short trading, and other tricks the 1% on Wall Street use.

Where the hell have you been? There has never been anything but "fuck you, got mine" in the world of bitcoin. And, as many would argue around here, that is freedom.

It's been obvious from day one why unregulated currency markets are bad for everyone but the 1%. I mean, Zhoutong even posted a gini index for bitcoins, .8. That's worse than Nigeria in terms of wealth distribution (.7).

What in the hell ever made you think there was anything Utopian about this?

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Crypt_Current
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November 18, 2011, 03:12:47 AM
 #33

It's ironic that a Utopian commodity/currency designed for freedom is being heavily affected by high frequency trading, short trading, and other tricks the 1% on Wall Street use.

Where the hell have you been? There has never been anything but "fuck you, got mine" in the world of bitcoin. And, as many would argue around here, that is freedom.

It's been obvious from day one why unregulated currency markets are bad for everyone but the 1%. I mean, Zhoutong even posted a gini index for bitcoins, .8. That's worse than Nigeria in terms of wealth distribution (.7).

What in the hell ever made you think there was anything Utopian about this?

Where the hell have YOU been?  haven't seen your iron-fist style around here lately

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November 18, 2011, 03:28:19 AM
 #34

It's ironic that a Utopian commodity/currency designed for freedom is being heavily affected by high frequency trading, short trading, and other tricks the 1% on Wall Street use.

Where the hell have you been? There has never been anything but "fuck you, got mine" in the world of bitcoin. And, as many would argue around here, that is freedom.

It's been obvious from day one why unregulated currency markets are bad for everyone but the 1%. I mean, Zhoutong even posted a gini index for bitcoins, .8. That's worse than Nigeria in terms of wealth distribution (.7).

What in the hell ever made you think there was anything Utopian about this?

Well put.

One time I supported a campaign to introduce new users to Bitcoin, but I recognized that at this point all that is doing is guiding them into the line at the slaughter house (or a majority of them anyway) so I withdrew from any activities along these lines.  And would/did suggest that anyone receiving donations in Bitcoin (which I think is a great thing to do) immediately cash them out for just about anything else.

I retain a lot of hope that at some point Bitcoin will be a viable technology for the masses, but a good deal of evolution is needed before that is the case (IMHO.)


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November 18, 2011, 03:58:40 AM
 #35

I retain a lot of hope that at some point Bitcoin will be a viable technology for the masses, but a good deal of evolution is needed before that is the case (IMHO.)
You can say that again.

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November 18, 2011, 04:03:41 AM
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The idea someone had for making bitcoin payment and purchasing tools on cell phones would be one such evolution. Making it easier to use it to buy and sell is essential to getting more people to adopt it.
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November 18, 2011, 04:49:56 AM
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November 18, 2011, 04:58:04 AM
 #38

anyone who got into / planned on using bitcoin as a speculation vehicle got exactly what they deserved. use it as it was intended - decentralized currency and not as a get rich quick scheme.

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November 18, 2011, 07:30:41 AM
 #39

The idea someone had for making bitcoin payment and purchasing tools on cell phones would be one such evolution. Making it easier to use it to buy and sell is essential to getting more people to adopt it.

Getting cell phone users buying trinkets with Bitcoin is not something I feel is very appropriate at the moment.  But it would be a nice thing to have in the system's back pocket and I do believe that solutions are being and have been developed for this.

The people I would prefer to see being significantly involved in Bitcoin at the moment who be those who have a specific combination of tech savvy, reasonably well off financially, deeply suspicious of everything, and (with luck) having some measure of decency and honesty.

These types of people would be best situated to not lose anything they cannot afford to lose and to assist in getting the currency distributed effectively if/when there is a legitimate need to do so arises.


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November 18, 2011, 07:54:40 AM
 #40

The idea someone had for making bitcoin payment and purchasing tools on cell phones would be one such evolution. Making it easier to use it to buy and sell is essential to getting more people to adopt it.

https://bit-pay.com/aboutMobile.html

I'm planning on approaching my lunch place on Thursday here in Cleveland to see if they will set up something to use this.  I've been going there for 5 years and might be able to get them into it.  Looking forward to paying for my future lunches in bitcoins!

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