.

[meelba]

I'm still trying to figure out why he posted screenshots of his position without understanding the fallout that could result for him in such a thin market.

If people are made aware that you're 10:1 in any direction, and they know your base price and level of exposure, it's simple maths to take advantage given that they have the resources to go against your position enough to liquidate you. In this case that appears to be what happened.

Definition of 'Stop Hunting'
A strategy that attempts to force some market participants out of their positions by driving the price of an asset to a level where many individuals have chosen to set their stop-loss orders. The triggering of many stop losses generally leads to high volatility and can present a unique opportunity for investors who seek to trade in this environment.

Who were interested in this liquidation? nobody would buy 20 000BTC just for fun, and nobody could get profit from this trade except..... right.. bitcoinica.

[Jonathan Ryan Owens]

Who were interested in this liquidation? nobody would buy 20 000BTC just for fun, and nobody could get profit from this trade except..... right.. bitcoinica.

You must be new here.

[meelba]

I am 7 years in trading, I know who make profits and how.
this trade may be profitable only for bitcoinica.

[Clipse]

I am 7 years in trading, I know who make profits and how.
this trade may be profitable only for bitcoinica.

7year trading and you have the nerve to come boasting here with screenshots of how much profit you made ? hahahaha wtfever

Btw I know traders still trying to make a buck after 30years trading

[bittenbob]

I am 7 years in trading, I know who make profits and how.
this trade may be profitable only for bitcoinica.

Give it up man you aren't going to win this one. He even had the decency to come on here and tell you how it works. I love how at the beginning of the thread you are so happy you made money off bitcoinica and you posted your position to this website.

I reposted it in the speculation thread questioning if you were the "manipulator". Someone saw your position likely from my thread and thought they would wipe that smile right off your face. Also the fact I said manipulator probably made someone very spiteful to the point they wanted to take you out.

[Raoul Duke]

You got ZhouTonged! Suck it up!  

[zhoutong]

The main thing is - if this is not zhoutong, what could this XMAN earn from this trade?
he just liquidate me virtually. No trades on mtgox.

But who's got interest in this trade?


Liquidation trade was made on mtgox, so the only one reason to make profits is to put 20 000 order for sell at 6.99 and buy until 6.98 (to liquidate me and take profits at 6.99)
this didnt happen.

May be in equador police do nothing about this. but here this is a crime.

Is anyone here was liquidated right point in point ? please contact me.

Mt. Gox was delayed at that time. So it's not a virtual liquidation at all. Ask anyone on IRC because I was talking to them during the market spike. I didn't know anything about this until the price suddenly turns 6.95.

[gtabmx]

I am 7 years in trading, I know who make profits and how.
this trade may be profitable only for bitcoinica.

Do you always display your positions publicly online when trading?

[chsados]

I'm still trying to figure out why he posted screenshots of his position without understanding the fallout that could result for him in such a thin market.

If people are made aware that you're 10:1 in any direction, and they know your base price and level of exposure, it's simple maths to take advantage given that they have the resources to go against your position enough to liquidate you. In this case that appears to be what happened.

http://ebooks.gutenberg.us/WorldeBookLibrary.com/confessstock.htm

[DeathAndTaxes]

I am 7 years in trading, I know who make profits and how.
this trade may be profitable only for bitcoinica.

Do you always display your positions publicly online when trading?

Standard practice for 7 year veterans.  6 year veterans not so much.

[legitnick]

Hey, FUCK YOU!!
that is all.

[PatrickHarnett]

I am 7 years in trading, I know who make profits and how.
this trade may be profitable only for bitcoinica.

Do you always display your positions publicly online when trading?

Standard practice for 7 year veterans.  6 year veterans not so much.

Trading what?  Most traders I know don't know shit about trading something as volatile as this.  Reading through, people appear to not understand how futures and options work, and now they are learning, are annoyed at their own ignorance.

[notme]

Hell, I’m almost enclined to believe this has to be a concerted effort by some entities who dislike Bitcoin. It’s incredible how there is always a huge problem leading to wide and severe trust issues with Bitcoin.

I'm interested in this theory.  Did you have the same opinion of the people making the trades that increased BTCUSD from under $3 to $7?  Are you opposed to people developing miners that are more efficient, use GPUs or FPGAs, or can consolidate their processing power into pools?  These all create more liquidity and volatility in the market, the same as leverage.

Did you think the run up from < $1 to > $10 was healthy?  (I will leave alone the one-time push to $30, unless you wish to include it.)

The whole of the BTC economy is less than the most "real world" currency.  Of course it's going to be volatile.

I'm not sure what to say regarding your conspiracy theories.  If I have a formula such as 1) dislike btc, 2) apply basic trading tools to exchange BTC and fiat, and 3a) Crush bitcoin or 3b) Profit!  Which branch do you find more likely?

I’m against leverage with Bitcoin because it is nonsensical to use margin on a highly volatile asset, though it will sort itself out because the gamblers will keep giving their money to zhoutong.

I think the spring/summer runup was justified to a certain point because the community did quickly expand at the time and the huge growth is still visible now. ~500-700% growth from April’s 1 USD is quite possible, yes.

What I meant to say is that it’s weird that Bitcoin is plagued non-stop with such fiascos, and in my opinion at the very least the MtGox incident wasn’t profit-oriented. We know that the attacker allocated himself all Bitcoins on MtGox via admin account, then sold them all off, creating the crash to $0.01. He couldn’t withdraw all his cash due to the limit. I don’t think a profit-seeking hacker would plan that badly. It’s also way easier, quicker and safer to withdraw the Bitcoins. IMO the perpetrator was more interested in creating charts like this one: http://blog.asymptotic.co.uk/wp-content/uploads/2011/07/Bitcoin_crash_2011-06-19.png

Then followed a myriad of scams and hacks like MyBitcoin, several exchanges, allinvain etc. which undermined trust and further damaged Bitcoin’s reputation.

Still reading the thread, but had to jump in here... the MtGox fiasco was profit-oriented.  At the time, the only limit on withdrawals was a USD limit and the BTC limit was USD limit/bitcoin price.  They dropped it to 0.01 so they could withdrawal 100k BTC.

[SlaveInDebt]

So, does this mean that an unfettered free market can withstand and destroy cheesy trading games?!?!

hip, hip hooray!

-EP

Best said.

Hey, FUCK YOU!!
that is all.

Most allowed.

We are with you Nick, don't give up and learn!

[meelba]

I am 7 years in trading, I know who make profits and how.
this trade may be profitable only for bitcoinica.

Give it up man you aren't going to win this one. He even had the decency to come on here and tell you how it works. I love how at the beginning of the thread you are so happy you made money off bitcoinica and you posted your position to this website.

I reposted it in the speculation thread questioning if you were the "manipulator". Someone saw your position likely from my thread and thought they would wipe that smile right off your face. Also the fact I said manipulator probably made someone very spiteful to the point they wanted to take you out.

I did need to put it here in case of this man wonn't let me to withdraw.
but he solve the problem of withdrawal by another way.

[notme]

I am 7 years in trading, I know who make profits and how.
this trade may be profitable only for bitcoinica.

Give it up man you aren't going to win this one. He even had the decency to come on here and tell you how it works. I love how at the beginning of the thread you are so happy you made money off bitcoinica and you posted your position to this website.

I reposted it in the speculation thread questioning if you were the "manipulator". Someone saw your position likely from my thread and thought they would wipe that smile right off your face. Also the fact I said manipulator probably made someone very spiteful to the point they wanted to take you out.

I did need to put it here in case of this man couldn't let me to withdraw.
but he solve the problem of withdrawal using another way.

Anybody with enough money could have calculated your force-liquidation price and profited from it.  You may want to walk away from this and cool off before you make any more of a fool of yourself.

[bittenbob]

I am 7 years in trading, I know who make profits and how.
this trade may be profitable only for bitcoinica.

Give it up man you aren't going to win this one. He even had the decency to come on here and tell you how it works. I love how at the beginning of the thread you are so happy you made money off bitcoinica and you posted your position to this website.

I reposted it in the speculation thread questioning if you were the "manipulator". Someone saw your position likely from my thread and thought they would wipe that smile right off your face. Also the fact I said manipulator probably made someone very spiteful to the point they wanted to take you out.

I did need to put it here in case of this man couldn't let me to withdraw.
but he solve the problem of withdrawal using another way.

Anybody with enough money could have calculated your force-liquidation price and profited from it.  You may want to walk away from this and cool off before you make any more of a fool of yourself.

I'm not sure that's possible.

[notme]

I am 7 years in trading, I know who make profits and how.
this trade may be profitable only for bitcoinica.

Give it up man you aren't going to win this one. He even had the decency to come on here and tell you how it works. I love how at the beginning of the thread you are so happy you made money off bitcoinica and you posted your position to this website.

I reposted it in the speculation thread questioning if you were the "manipulator". Someone saw your position likely from my thread and thought they would wipe that smile right off your face. Also the fact I said manipulator probably made someone very spiteful to the point they wanted to take you out.

I did need to put it here in case of this man couldn't let me to withdraw.
but he solve the problem of withdrawal using another way.

Anybody with enough money could have calculated your force-liquidation price and profited from it.  You may want to walk away from this and cool off before you make any more of a fool of yourself.

I'm not sure that's possible.

Which part... I calculated it before I even moved on to the second post.

As for profiting, remember, after you hit his forced liquidation price, he has to buy 17k BTC.  Sure, it may not have been possible when he posted it, but there was a quick rebound and the window was wide open.

[plastic.elastic]

Sorry OP, i have to admit i got a big chunk of your money.

I love this forum so far. I never mine yet make tons of cash from trading.

[bittenbob]

Sorry OP, i have to admit i got a big chunk of your money.

I love this forum so far. I never mine yet make tons of cash from trading.

Congrats and thank you. Did you do this because of my thread or the one he started?