dryden (OP)
Newbie
 Offline
Activity: 21
Merit: 0
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January 17, 2012, 10:34:39 PM |
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don't remember what thread, but someone mentioned the pump'n'dumper scam where someone would sell their leverages gazillion coins to cause all the long positions on bitcoinica to default. Well....... it just happened.
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The Bitcoin network protocol was designed to be extremely flexible. It can be used to create timed transactions, escrow transactions, multi-signature transactions, etc. The current features of the client only hint at what will be possible in the future.
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GeniuSxBoY
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January 17, 2012, 10:37:27 PM |
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lol this is awesome. bitcoinica wins the internet. he stole all your shit and left
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Be humble!
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Technomage
Legendary
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Activity: 2184
Merit: 1056
Affordable Physical Bitcoins - Denarium.com
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January 17, 2012, 10:38:14 PM |
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This is indeed what's happening. I'm glad that I wasn't long on Bitcoinica.
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Denarium closing sale discounts now up to 43%! Check out our products from here! |
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ineededausername
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January 17, 2012, 10:38:18 PM |
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lol this is awesome. bitcoinica wins the internet. he stole all your shit and left
hahahaha Bitcoinica probably has an asterisk now.. let me check  |
(BFL)^2 < 0
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Vandroiy
Legendary
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Activity: 1036
Merit: 1002
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January 17, 2012, 10:38:37 PM |
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I was warning you people all the damn time for about two weeks. It's a simple sell, Bitcoinica was too heavily leveraged and the order book was too thin!
Seriously, I feel no pity for people who go all-in on heavy leverage. This was completely insane.
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Electricbees
Sr. Member
Offline
Activity: 322
Merit: 250
We are bees, and we hate you.
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January 17, 2012, 10:39:22 PM |
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I'm surprised to see this... Just watched the price fall almost $2.00 in less than a minute...
And Mt.Goxlive is down...
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Donations are welcome!
1BEES19ds5gEnRBoU1qNFPfjRXe94trMG3
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notme
Legendary
Offline
Activity: 1904
Merit: 1002
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January 17, 2012, 10:39:41 PM |
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lol this is awesome. bitcoinica wins the internet. he stole all your shit and left
hahahaha Bitcoinica probably has an asterisk now.. let me check Asterisk is on sell now... Whoever did this was leveraged, I say we squeeze back hard. |
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proudhon
Legendary
Offline
Activity: 2198
Merit: 1311
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January 17, 2012, 10:42:39 PM |
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God, this project has had to overcome hacks and insecurity and now we've got to overcome Z's ridiculous service.
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Bitcoin Fact: the price of bitcoin will not be greater than $70k for more than 25 consecutive days at any point in the rest of recorded human history.
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ineededausername
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January 17, 2012, 10:43:15 PM |
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God, this project has had to overcome hacks and insecurity and now we've got to overcome Z's ridiculous service.
haha +1 |
(BFL)^2 < 0
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the joint
Legendary
Offline
Activity: 1834
Merit: 1020
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January 17, 2012, 10:43:35 PM |
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Anybody having fun? You wanted media attention, you got it!
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neptop
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January 17, 2012, 10:44:07 PM |
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Could have been predicted after the recent uptrend.
Well, nice time for day (or faster) traders.
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BitCoin address: 1E25UJEbifEejpYh117APmjYSXdLiJUCAZ
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Technomage
Legendary
Offline
Activity: 2184
Merit: 1056
Affordable Physical Bitcoins - Denarium.com
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January 17, 2012, 10:44:57 PM |
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I was warning you people all the damn time for about two weeks. It's a simple sell, Bitcoinica was too heavily leveraged and the order book was too thin!
Seriously, I feel no pity for people who go all-in on heavy leverage. This was completely insane. I agree. I've never used Bitcoinica and I have no plans to do so in the future either. I'm long the traditional way and still very comfortable. It's interesting to see where we are after the dust settles, which could take a while. There is going to be high volumes this week.  |
Denarium closing sale discounts now up to 43%! Check out our products from here! |
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teek
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January 17, 2012, 10:46:43 PM |
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I got zhoutonged again.. Thought I was jonny on the spot closing my short position at around 5.30 and going long, that shit went craaaaaaaaaazzzzzzzzy I thought I was good with the dollar profit. Good thing I was only playing with peanuts  |
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SlaveInDebt
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January 17, 2012, 10:47:23 PM |
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God, this project has had to overcome hacks and insecurity and now we've got to overcome Z's ridiculous service.
+2 was thinking this earlier today at 6.55 |
"A banker is a fellow who lends you his umbrella when the sun is shining, but wants it back the minute it begins to rain." - Mark Twain
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notme
Legendary
Offline
Activity: 1904
Merit: 1002
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January 17, 2012, 10:48:32 PM |
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Now double asterisk... Bitcoinica is having trouble connecting to mtgox.
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piramida
Legendary
Offline
Activity: 1176
Merit: 1010
Borsche
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January 17, 2012, 10:49:10 PM |
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It's interesting to see where we are after the dust settles, which could take a while. There is going to be high volumes this week. I guess we would quickly return to 6+, but with healthier situation now that the leveraged kamikazes are all cleared out. The problem with leverage on BTC is that we get uncontrolled spikes, as if we didn't have enough panicers selling when the price fluctuated already I'm not saying it is bad for economy - no, it's all well, price returns to the original point quickly, and it's very easy to make money on that unjustified swings. |
i am satoshi
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Serge
Legendary
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Activity: 1050
Merit: 1000
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January 17, 2012, 10:50:55 PM |
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It's interesting to see where we are after the dust settles, which could take a while. There is going to be high volumes this week. I guess we would quickly return to 6+, but with healthier situation now that the leveraged kamikazes are all cleared out. *thumb_up* |
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StewartJ
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January 17, 2012, 10:51:11 PM |
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It's interesting to see where we are after the dust settles, which could take a while. There is going to be high volumes this week. I guess we would quickly return to 6+, but with healthier situation now that the leveraged kamikazes are all cleared out. Already back up to $5.80 now. Could this of been the last BTC buying opportunity of a lifetime? |
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Technomage
Legendary
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Activity: 2184
Merit: 1056
Affordable Physical Bitcoins - Denarium.com
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January 17, 2012, 10:51:23 PM |
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I guess we would quickly return to 6+, but with healthier situation now that the leveraged kamikazes are all cleared out. Indeed. I see this as a much needed learning process. This will teach people to be more careful. |
Denarium closing sale discounts now up to 43%! Check out our products from here! |
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StewartJ
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January 17, 2012, 10:54:10 PM |
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I guess we would quickly return to 6+, but with healthier situation now that the leveraged kamikazes are all cleared out. Indeed. I see this as a much needed learning process. This will teach people to be more careful. All the care in the world is not going to stop someone from flinging a huge sell or buy and send the market in an instant $2.00 spike. |
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