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Author Topic: Over 100 000 open Interest at Bitcoinica! Mostly short!?!  (Read 1688 times)
ThePok
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May 06, 2012, 08:12:10 PM
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Wow, 100000 BTC in open positions at Bitcoinica.



Most are shorts, as can be seen by the interesrates.
And all that shorts have to be closed at some Point Grin

So Up Up Up??
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ineededausername
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May 06, 2012, 08:34:11 PM
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whoa, massive short squeeze time Grin

(BFL)^2 < 0
zhoutong
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May 06, 2012, 09:24:40 PM
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Open interest is the smaller of the opening long and opening short. So there are at least 200,000 BTC worth of open positions.

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May 06, 2012, 09:41:47 PM
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At some point those shorts will have a cumulative effect so there would be no squeeze. If the majority of the capital goes that route there is not enough left to drive up the price in the first place.
Looking at the continuation at the massive sideways movement I'd rather join them than oppose them, if any.

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May 07, 2012, 05:02:24 AM
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At some point those shorts will have a cumulative effect so there would be no squeeze. If the majority of the capital goes that route there is not enough left to drive up the price in the first place.
Looking at the continuation at the massive sideways movement I'd rather join them than oppose them, if any.
Their problem is that they are paying 20% interest on that.  That's not very much - but it is a sure loss.  I predict that they'll break one by one and close their positions with a small loss and the price will be stable for even longer.
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May 07, 2012, 05:10:59 AM
 #6

Nobody leaves a position open for a year.

Do you have any reason to believe that the 5 USD support is solid? Anyway it is my opinion that fighting for a psychological value is a lost cause.

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May 07, 2012, 06:07:09 AM
 #7

Rally Time Smiley at what price will it take for force liquidation and a short squeeze?

Bitcoinica still has not given me 50% of my claim of 600 BTC
INTERSANGO can go down with bitcoinica for abandoning customers
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May 07, 2012, 06:23:19 AM
 #8

8$  Huh

...

8$  Cheesy

BadBear
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May 07, 2012, 06:35:15 AM
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Rally Time Smiley at what price will it take for force liquidation and a short squeeze?

It's always "rally time" in these parts.

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arepo
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May 07, 2012, 06:39:32 AM
 #10

It's always "rally time" in these parts.

+1

sure is summerfag in here

this sentence has fifteen words, seventy-four letters, four commas, one hyphen, and a period.
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May 07, 2012, 09:09:19 AM
 #11

Rally Time Smiley at what price will it take for force liquidation and a short squeeze?
I don't think there will be a short squeeze this time - what I expect is that the price will keep being stable for quite some time and all the shorts will be slowly liquidated one by one by their owners because of the interest rates.
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May 07, 2012, 09:15:19 AM
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Rally Time Smiley at what price will it take for force liquidation and a short squeeze?
I don't think there will be a short squeeze this time - what I expect is that the price will keep being stable for quite some time and all the shorts will be slowly liquidated one by one by their owners because of the interest rates.

Doesn't make any sense. We've had stability with longs closing (ie selling Bitcoins, as seen by the decreased interest on longs) and more and more shorts opening (ie selling Bitcoins, as seen by the increased interest on shorts). What makes you think this stability will hold once the pressure shifts from downward to upward?

I'd say once people start liquidating shorts, because of the interest you mentioned, the price will rise and people will start wanting to go long again. And since the shorts are starting to lose money, both by interest and the rising price, they might want to close as well. This could turn into a huge snowball and launch us much higher if these events happen in a chainreaction-style.

We'll see. I think the days of stability are soon to be over Smiley

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HorseRider
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May 07, 2012, 10:08:03 AM
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if you have any asking orders, increase the price now;D

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May 07, 2012, 10:40:08 AM
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Rally Time Smiley at what price will it take for force liquidation and a short squeeze?
I don't think there will be a short squeeze this time - what I expect is that the price will keep being stable for quite some time and all the shorts will be slowly liquidated one by one by their owners because of the interest rates.

Doesn't make any sense. We've had stability with longs closing (ie selling Bitcoins, as seen by the decreased interest on longs) and more and more shorts opening (ie selling Bitcoins, as seen by the increased interest on shorts). What makes you think this stability will hold once the pressure shifts from downward to upward?

I'd say once people start liquidating shorts, because of the interest you mentioned, the price will rise and people will start wanting to go long again. And since the shorts are starting to lose money, both by interest and the rising price, they might want to close as well. This could turn into a huge snowball and launch us much higher if these events happen in a chainreaction-style.

We'll see. I think the days of stability are soon to be over Smiley

That's a plausible theory - but I feel we are not there yet.
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May 07, 2012, 01:10:24 PM
 #15

whoa, massive short squeeze time Grin
But bitkoinika can do like this .. Cool  And many will be liquidated on both sides .. (this is real data graph)

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SkRRJyTC
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May 07, 2012, 01:11:52 PM
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That spike was the most exciting and awesome day of BTC trading I've ever had.
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May 07, 2012, 01:20:39 PM
 #17

That spike was the most exciting and awesome day of BTC trading I've ever had.
Here's another interesting thing is, I personally recorded the. No one site - has not shown that, except http://bitcoin.clarkmoody.com/
http://www.youtube.com/watch?v=WGcO9BB87kE (the channel is not mine)

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May 08, 2012, 02:17:58 AM
 #18

That spike was the most exciting and awesome day of BTC trading I've ever had.

was that the day the guy publicly opened a $13k short at $6.25 and was promptly zhoutonged?

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