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StewartJ (OP)
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January 18, 2012, 01:30:38 AM |
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Are we being punked? What gives with crash to $4 and spike to $7?
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Bitcoin mining is now a specialized and very risky industry, just like gold mining. Amateur miners are unlikely to make much money, and may even lose money. Bitcoin is much more than just mining, though!
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SlaveInDebt
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January 18, 2012, 01:31:04 AM |
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BUY BUY BUY BUY BUY!
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"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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Oldminer
Legendary
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Activity: 1022
Merit: 1001
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January 18, 2012, 01:31:17 AM |
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Its called 'profit taking'.
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cypherdoc
Legendary
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Activity: 1764
Merit: 1002
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January 18, 2012, 01:32:20 AM |
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i seriously doubt there are any ppl making any money with this volatility and illiquidity on the exchanges.
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waspoza
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January 18, 2012, 01:33:41 AM |
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Well ppl said that bouncing between 6,5 -7,2 is boring, so now we have some fun in the market.
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N12
Donator
Legendary
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Activity: 1610
Merit: 1010
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January 18, 2012, 01:36:36 AM |
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i seriously doubt there are any ppl making any money with this volatility and illiquidity on the exchanges.
Oh, zhoutong most certainly is! The bank always wins! |
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GeniuSxBoY
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January 18, 2012, 01:37:43 AM |
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I wonder if mtgox rolled back the huge sell order somehow.
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Be humble!
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antoineph
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January 18, 2012, 01:37:52 AM |
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I managed to make some BTC at least.. I think the major losers are bitcoinica users.
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bitcoinBull
Legendary
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Activity: 826
Merit: 1001
rippleFanatic
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January 18, 2012, 01:39:32 AM |
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i seriously doubt there are any ppl making any money with this volatility and illiquidity on the exchanges.
Oh, zhoutong most certainly is! The bank always wins! Also mtgox market makers / bots. For them, nothing better than large spreads. |
College of Bucking Bulls Knowledge
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gewure
Sr. Member
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Activity: 364
Merit: 250
[#][#][#]
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January 18, 2012, 01:39:41 AM |
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cypherdoc
Legendary
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Activity: 1764
Merit: 1002
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January 18, 2012, 01:40:37 AM |
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i seriously doubt there are any ppl making any money with this volatility and illiquidity on the exchanges.
Oh, zhoutong most certainly is! The bank always wins! i really wonder about this. whenever he liquidates someone it means their acct moved into negative territory and HE has to take the loss in those situations where he had to provide liquidity from his reserves when there was no matching order to be found. multiply this over many accts both up and down in this huge whipsaw and he could get wiped out, i think. |
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bittenbob
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January 18, 2012, 01:41:12 AM |
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I managed to make both BTC and USD. You just had to be in the right position and patient.
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GeniuSxBoY
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January 18, 2012, 01:41:25 AM |
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I only lost $170 compared to the $1400 I would have lost when it was $4.80 and potentially fallen even farther.
optimism glass is half full/half empty
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Be humble!
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bittenbob
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January 18, 2012, 01:42:59 AM |
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i seriously doubt there are any ppl making any money with this volatility and illiquidity on the exchanges.
Oh, zhoutong most certainly is! The bank always wins! i really wonder about this. whenever he liquidates someone it means their acct moved into negative territory and HE has to take the loss in those situations where he had to provide liquidity from his reserves when there was no matching order to be found. multiply this over many accts both up and down in this huge whipsaw and he could get wiped out, i think. He wouldnt have lost a dime. He made a fortune I am sure. The shorts and the longs all got liquidated= pure profit. It is for this reason I question his integrity and wonder if he is the one moving the market with his now large collection of USD and BTC. He certainly has the means to do this unlike anyone else. |
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Luis_GT
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January 18, 2012, 01:43:24 AM |
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Come on 4.9!!! need to rebuy some bitcoins cheap!  |
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StewartJ (OP)
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January 18, 2012, 01:47:10 AM |
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I only lost $170 compared to the $1400 I would have lost when it was $4.80 and potentially fallen even farther.
optimism glass is half full/half empty
Lucky on that one! |
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bitcoinBull
Legendary
Offline
Activity: 826
Merit: 1001
rippleFanatic
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January 18, 2012, 01:50:49 AM |
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i seriously doubt there are any ppl making any money with this volatility and illiquidity on the exchanges.
Oh, zhoutong most certainly is! The bank always wins! i really wonder about this. whenever he liquidates someone it means their acct moved into negative territory and HE has to take the loss in those situations where he had to provide liquidity from his reserves when there was no matching order to be found. multiply this over many accts both up and down in this huge whipsaw and he could get wiped out, i think. He wouldnt have lost a dime. He made a fortune I am sure. The shorts and the longs all got liquidated= pure profit. It is for this reason I question his integrity and wonder if he is the one moving the market with his now large collection of USD and BTC. He certainly has the means to do this unlike anyone else. Most is probably not his profit; it goes to the people with profitable positions. The ones with deep enough pockets / big margin maintenance, who can survive the spikes. Hard to know to what extent zhou can profit off the spread, beyond his commission. |
College of Bucking Bulls Knowledge
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RyNinDaCleM
Legendary
Offline
Activity: 2408
Merit: 1009
Legen -wait for it- dary
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January 18, 2012, 03:13:29 PM |
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I managed to make both BTC and USD. You just had to be in the right position and patient.
This^ I fared pretty well too! Up about ( censored).  Patients is a virtue! I figured out early yesterday that I was on the wrong side. So I waited, and got opposite the movements, and had my personal best day here. I'm sure it was more luck than anything.  I was going all in/out during the madness. I'm a glutton for risk I guess. Yet, I stay away from leverage! |
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piramida
Legendary
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Activity: 1176
Merit: 1010
Borsche
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January 18, 2012, 10:07:00 PM |
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made about 100 btc, when I saw 6.20 broken down I sold all and set buy orders at 5.50 and 5, didn't know it would fall even further, but anyway, easy coin and I helped stop this spike down a little, too  |
i am satoshi
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RyNinDaCleM
Legendary
Offline
Activity: 2408
Merit: 1009
Legen -wait for it- dary
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January 18, 2012, 11:40:14 PM |
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made about 100 btc, when I saw 6.20 broken down I sold all and set buy orders at 5.50 and 5, didn't know it would fall even further, but anyway, easy coin and I helped stop this spike down a little, too See? It's people like us who prevented a total collapse by forced liquidation.  We, as speculators, cushion the swings. It's stupid people with brilliant ideas ( ) that cause them, and bitcoinica that amplifies them. |
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