I have made a 25% return this week trading *against* the pirate

[adamstgBit]

Sure, it would be bullish but I've seen no evidence he is in a short squeeze.  Just a bunch of wild imaginations.

no hard evidence yet

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[bitcoinBull]

Sure, it would be bullish but I've seen no evidence he is in a short squeeze.  Just a bunch of wild imaginations.

no hard evidence yet

He has lifted the referral requirement. The end is nigh.

[notme]

Sure, it would be bullish but I've seen no evidence he is in a short squeeze.  Just a bunch of wild imaginations.

Okay okay how much do you have invested with pirate currently?

He's got a few BTC of mine.  So where's the evidence?

[smoothie]

Sure, it would be bullish but I've seen no evidence he is in a short squeeze.  Just a bunch of wild imaginations.

Okay okay how much do you have invested with pirate currently?

He's got a few BTC of mine.  So where's the evidence?

Dunno...asking the wrong person...

"a few"...like > 1000 BTC?

[notme]

Sure, it would be bullish but I've seen no evidence he is in a short squeeze.  Just a bunch of wild imaginations.

Okay okay how much do you have invested with pirate currently?

He's got a few BTC of mine.  So where's the evidence?

Dunno...asking the wrong person...

"a few"...like > 1000 BTC?

Why does it matter?  Why are you refusing to back up your accusations?

[smoothie]

Sure, it would be bullish but I've seen no evidence he is in a short squeeze.  Just a bunch of wild imaginations.

Okay okay how much do you have invested with pirate currently?

He's got a few BTC of mine.  So where's the evidence?

Dunno...asking the wrong person...

"a few"...like > 1000 BTC?

Why does it matter?  Why are you refusing to back up your accusations?

Where did I make accusations of a short squeeze?

[notme]

Sure, it would be bullish but I've seen no evidence he is in a short squeeze.  Just a bunch of wild imaginations.

Okay okay how much do you have invested with pirate currently?

He's got a few BTC of mine.  So where's the evidence?

Dunno...asking the wrong person...

"a few"...like > 1000 BTC?

Why does it matter?  Why are you refusing to back up your accusations?

Where did I make accusations of a short squeeze?

Oh sorry, you jumped the middle of my reply to ArcticMine.  Way to pull a notme .

[smoothie]

Sure, it would be bullish but I've seen no evidence he is in a short squeeze.  Just a bunch of wild imaginations.

Okay okay how much do you have invested with pirate currently?

He's got a few BTC of mine.  So where's the evidence?

Dunno...asking the wrong person...

"a few"...like > 1000 BTC?

Why does it matter?  Why are you refusing to back up your accusations?

Where did I make accusations of a short squeeze?

Oh sorry, you jumped the middle of my reply to ArcticMine.  Way to pull a notme .

LOL...that's funny...and I'm trying to look in my post history of where I might have put up a post like that...lol guess I never did.

NOTME! hahaha

[Raize]

The next time he drops his walls he's going to have another thing coming, just watch.

[smoothie]

The next time he drops his walls he's going to have another thing coming, just watch.

You talking about his buy walls?

[JoelKatz]

how does pirate make money if he buys high and sells low

Buying high pushes the price extremely high, allowing someone who can corner the market to profit by selling. Selling low pushes the price extremely low, allowing someone who can corner the market to profit by buying. If you're the one doing the high buying and low selling, you know when it's going to start and when it's going to stop, allowing you to time your trades until after the walls re-appear. Some lucky and/or wise counterparty recognizing this happening can both profit during the buy up or sell down (when you're buying high and selling low) by taking your trades and they can also profit during the buy low and sell high phases by taking the trades of the walls that other people put up.

For example, say that Bitcoins were trading at $9 or so and are stable there. And then say that last Thursday night, someone wanted to push the price down to $7 so they can buy low. In order to do that, they have to sell coins. So first they sell at $9. But then they have to keep selling all the way down to $7. So they have to sell below market price. Since the price will go back to $9 when they're done, a counter-party can profit. Now, while that someone is buying at $7.80, others can buy at $7.80 too. Since the price will go back to $9 when they're done, again a counter-party can profit. If people with sufficient resources recognize this manipulation and move on it, the person doing the manipulating will lose because they'll have to sell shares below market price and they will hardly get to buy any shares back below market price. Heck, they might not even be able to get all the way to $7, getting stuck just under $8. It could have happened .. last Thursday night.

[ArticMine]

how does pirate make money if he buys high and sells low

Buying high pushes the price extremely high, allowing someone who can corner the market to profit by selling. Selling low pushes the price extremely low, allowing someone who can corner the market to profit by buying. If you're the one doing the high buying and low selling, you know when it's going to start and when it's going to stop, allowing you to time your trades until after the walls re-appear. Some lucky and/or wise counterparty recognizing this happening can both profit during the buy up or sell down (when you're buying high and selling low) by taking your trades and they can also profit during the buy low and sell high phases by taking the trades of the walls that other people put up.

No. His strategy is to sell high and then buy low. The reason he may end up selling low and then buying high is because selling high and then buying low is a bear market strategy that does not work in a bull market.

[notme]

how does pirate make money if he buys high and sells low

Buying high pushes the price extremely high, allowing someone who can corner the market to profit by selling. Selling low pushes the price extremely low, allowing someone who can corner the market to profit by buying. If you're the one doing the high buying and low selling, you know when it's going to start and when it's going to stop, allowing you to time your trades until after the walls re-appear. Some lucky and/or wise counterparty recognizing this happening can both profit during the buy up or sell down (when you're buying high and selling low) by taking your trades and they can also profit during the buy low and sell high phases by taking the trades of the walls that other people put up.

No. His strategy is to sell high and then buy low. The reason he may end up selling low and then buying high is because selling high and then buying low is a bear market strategy that does not work in a bull market.

How do you know his strategy?

[JoelKatz]

His strategy is to sell high and then buy low.

Right, but in order to sell high, the market must first be high. He can't afford to wait for the market to rise on its own, so he has to buy to push it up. And in order to buy low, the market must first be low. Again, he can't afford to wait for the market to drop on its own, so he has to sell to push it down. In order for this to work, he has to wait for the walls to be replaced before he can change direction. Anyone who recognizes this strategy can buy into the walls on a change from down to up or sell into the walls on a change from up to down and take the profits the manipulator intended for themselves.

[ArticMine]

how does pirate make money if he buys high and sells low

Buying high pushes the price extremely high, allowing someone who can corner the market to profit by selling. Selling low pushes the price extremely low, allowing someone who can corner the market to profit by buying. If you're the one doing the high buying and low selling, you know when it's going to start and when it's going to stop, allowing you to time your trades until after the walls re-appear. Some lucky and/or wise counterparty recognizing this happening can both profit during the buy up or sell down (when you're buying high and selling low) by taking your trades and they can also profit during the buy low and sell high phases by taking the trades of the walls that other people put up.

No. His strategy is to sell high and then buy low. The reason he may end up selling low and then buying high is because selling high and then buying low is a bear market strategy that does not work in a bull market.

How do you know his strategy?

Because he is paying a premium 7% a week to borrow BTC rather than say 2% a year to borrow USD. So it is pretty obvious we are talking about a bear rather than a bull here. 

[notme]

how does pirate make money if he buys high and sells low

Buying high pushes the price extremely high, allowing someone who can corner the market to profit by selling. Selling low pushes the price extremely low, allowing someone who can corner the market to profit by buying. If you're the one doing the high buying and low selling, you know when it's going to start and when it's going to stop, allowing you to time your trades until after the walls re-appear. Some lucky and/or wise counterparty recognizing this happening can both profit during the buy up or sell down (when you're buying high and selling low) by taking your trades and they can also profit during the buy low and sell high phases by taking the trades of the walls that other people put up.

No. His strategy is to sell high and then buy low. The reason he may end up selling low and then buying high is because selling high and then buying low is a bear market strategy that does not work in a bull market.

How do you know his strategy?

Because he is paying a premium 7% a week to borrow BTC rather than say 2% a year to borrow USD.

He's paying 7% weekly, so his strategy is to lose money?  Makes perfect sense .

[ArticMine]

In a bear market Pirate's strategy makes a lot of sense. It just does not work very well in a bull market.

[the joint]

His strategy is to sell high and then buy low.

Right, but in order to sell high, the market must first be high. He can't afford to wait for the market to rise on its own, so he has to buy to push it up. And in order to buy low, the market must first be low. Again, he can't afford to wait for the market to drop on its own, so he has to sell to push it down. In order for this to work, he has to wait for the walls to be replaced before he can change direction. Anyone who recognizes this strategy can buy into the walls on a change from down to up or sell into the walls on a change from up to down and take the profits the manipulator intended for themselves.

Joel Katz hit the nail on the head.

With one exception (though he might have implied this when he said 'walls need to be replaced') --

Pirate is the one putting up the walls.

After a rally, Pirate places a buy wall.  Why does he do this if he doesn't intend to keep buying?  He is simply waiting for additional buy orders to fill in around the support wall.  When a sufficient amount of buy orders fill in, then he will sell like mad and crash the price.

After a crash, Pirate places a sell wall, even though he does not intend to keep selling.  Why does he do this?  He is simply waiting for additional sell orders to fill in around the sell wall.  When a sufficient amount of sell orders fill in, Pirate erects a true buy wall as a blockade for additional sellers and then starts buying to fuel a rally.

[notme]

In a bear market Pirate's strategy makes a lot of sense. It just does not work very well in a bull market.

And why do you assume this is Pirate's strategy?  Do you really think he's that stupid?  I've discussed his risk profile with him and he's not as dumb as you assume.  Again, I'll ask: Where is one scrap of evidence that your claims have anything to do with reality?

[ArticMine]

In a bear market Pirate's strategy makes a lot of sense. It just does not work very well in a bull market.

And why do you assume this is Pirate's strategy.  Do you really think he's that stupid?  I've discussed his risk profile with him and he's not as dumb as you assume.  Again, I'll ask: Where is one scrap of evidence that your claims have anything to do with reality?

We already know his strategy works very well in a bear market. The proof in that he has not missed a payment. Let us see how he does in a bull market particularly one where the BTC / USD price rises sharply.