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Author Topic: The RALLY have just begin? (+503 now) ;D  (Read 2083 times)
FeedbackLoop
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April 01, 2014, 10:22:56 AM
 #21

Bull trap

Oh fuck yeah...that!

That was on Bitfinex...Bitcoin was already at heights of a very steep spike at around $498 and some nutter came long with a 1009 BTC market order on Bitfinex, which took price right up to 509! 2 seconds later we were back at $500 with a bit of panic buying going on......now at $485.

Who are these people and how come such fkn clowns have access to so much capital? (early adopting kool aid merchants?)



Before going "fucking clown" on some poor stranger: never heard of short squeezes?
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April 01, 2014, 10:23:22 AM
 #22

Disgusting. We should petition the Exchanges that the Taker pays the fee.

Not the point I was making.

Right now, our 'market maker' friend is around $30K down on his investment. i.e. if he wanted to invest that kind of money into Bitcoin, his timing couldn't have been worse. Counter productive to the market and the value of his own investment even. Which begs the question, how come he has $500K USD at his disposal to begin with. 'Farms', Raskul said, I disagree. This was on Bitfinex and was most likely a leveraged long trade, which would mean that this investor must surely be feeling a lot of pain right now as well as the others who bought $490+ and decided to hold, despite being at the very tip of Wave 5 of a clear EW formation from the $436 bottom.

How would you buy if you want to invest that kind of money long-term and see a possibilty that the price might rise much higher (may 530 and correction to 510)?

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April 01, 2014, 10:25:52 AM
 #23

Disgusting. We should petition the Exchanges that the Taker pays the fee.

Not the point I was making.

Right now, our 'market maker' friend is around $30K down on his investment.

Exactly the point. He was a taker, not a maker - he took liquidity from the book. The result of this behavior is a huge spread - there were times when the spread was $20 today if you don't count some tiny orders. As long as the spread can be 5%, credit card payments are cheap in comparison, even with the help of Bitpay.

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April 01, 2014, 10:29:24 AM
 #24

Disgusting. We should petition the Exchanges that the Taker pays the fee.

Not the point I was making.

Right now, our 'market maker' friend is around $30K down on his investment. i.e. if he wanted to invest that kind of money into Bitcoin, his timing couldn't have been worse. Counter productive to the market and the value of his own investment even. Which begs the question, how come he has $500K USD at his disposal to begin with. 'Farms', Raskul said, I disagree. This was on Bitfinex and was most likely a leveraged long trade, which would mean that this investor must surely be feeling a lot of pain right now as well as the others who bought $490+ and decided to hold, despite being at the very tip of Wave 5 of a clear EW formation from the $436 bottom.

How would you buy if you want to invest that kind of money long-term and see a possibilty that the price might rise much higher (may 530 and correction to 510)?

You place a limit order slightly higher than the current price. If he had put a limit order @490, he'd have gotten his coins just as quickly - the arb bots will fill it.

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April 01, 2014, 11:06:33 AM
 #25


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April 01, 2014, 12:41:52 PM
 #26


Before going "fucking clown" on some poor stranger: never heard of short squeezes?


Yeah......that occurred to me in shower. It was on Bitfinex. Bitfinex is shady as fuck, there are traders on that exchange who know where the stop losses are set. Large stop losses were triggered and the resultant market order was filled with a market order.

It wasn't some idiot, it was someone being robbed fkn blind by the crooks on Bitfinex. Have seen it many times and have even been the victim of it, which is why I don't trade with stop orders on Bitfinex.

Kraken Account, Robbed/Emptied. Kraken say "Fuck you, its your loss": https://bitcointalk.org/index.php?topic=1559553.msg15656643#msg15656643

Bitfinex victims. DO NOT TOUCH THE BFX TOKEN! Start moving it around, or trading it, and you will be construed as having accepted it as an alternative means of payment to your USD, BTC, etc.
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April 01, 2014, 03:00:14 PM
 #27

Today's upswing took us away from the lower 400's if buying continues tomorrow we'll be back to mid 500's again.


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April 01, 2014, 03:04:48 PM
 #28

Somebody keep this rally going! All those ASIC manufacturers delaying their product while difficulty is skyrocketing need more capital!

We admire elephants in part because they demonstrate what we consider the finest human traits: empathy, self-awareness, and social intelligence. But the way we treat them puts on display the very worst of human behavior.
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this statement is false


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April 02, 2014, 07:42:07 PM
 #29

wouldn't it be just hilarious if the downward correction to this bulltrap gathered enough momentum to crash through the previous low? Grin

i'm chuckling today, how about you guys? Cheesy

this sentence has fifteen words, seventy-four letters, four commas, one hyphen, and a period.
18N9md2G1oA89kdBuiyJFrtJShuL5iDWDz
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April 02, 2014, 07:54:13 PM
 #30

wouldn't it be just hilarious if the downward correction to this bulltrap gathered enough momentum to crash through the previous low? Grin

i'm chuckling today, how about you guys? Cheesy

it's intriguing! having a jolly time buying some more btc today Cheesy
haven't done that for a while!!

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April 02, 2014, 07:57:14 PM
 #31

Don't get married to your position purmabulls....this could get bad. TERA has been right all along but i just realized it today

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April 02, 2014, 08:02:52 PM
 #32

Don't get married to your position purmabulls....this could get bad. TERA has been right all along but i just realized it today

i see it as the glorious end to a rather moreso; glorious summer.. we've been up so high in the heat for months, for me, it'll be very nice to have a bit of low cool air while I can finally enjoy the anticipation of a bright future in bitcoin - we've only had ONE block-halving, remember.

 Cool

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April 02, 2014, 08:06:44 PM
 #33

Don't get married to your position purmabulls....this could get bad. TERA has been right all along but i just realized it today

you mean cosmofly has been right
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