makes no sense why sentiment is bearish if 11m usd is lent out compared to 4000btc
I think this indicator is based on the volume of loans per day and not the total lent.
Topic: Bearish Bitfinex Sentiment Index almost 1:2 - page 2. (Read 5616 times)
I think this indicator is based on the volume of loans per day and not the total lent.
makes no sense why sentiment is bearish if 11m usd is lent out compared to 4000btc
wouldnt snowball cause spike downward if more positions are going long?
Yes, but everyone is going short.
I would also like to point out that Bitfinex contributes significantly to Bitstamp's daily volume. As of writing Bitstamp has had 24hr vol of 11079BTC, and Bitfinex contributed 4475BTC of that. Something significant is about to happen.
wouldnt snowball cause spike downward if more positions are going long?
Yes, but everyone is going short.
wouldnt snowball cause spike downward if more positions are going long?
In which direction does the market need to move in order to scalp the most people of which this indicator is based on?
I would bet in that direction.
It reminds me of starfish. *
Ahhhhh, the starfish. Please let this be another starfish.
[/quote]
I'm glad someone in this thread remembers the starfish!
[/quote]
what is the starfish, please tell
What is this starfish and snowball youll talkin bout?
The starfish was an indicator to show that the platform had run out of funds to lend.
A snowball is a situation where a forced liquidation of one position causes more positions to be liquidated in a snowball effect.
Has anybody seen that.
I haven't seen that seen I started trading in bitfinex?
Not even the day it hit 400 dollars per bitcoin. I actually made a small trade at 388$(buy).
Is it time to dump hard?
I haven't seen that seen I started trading in bitfinex?
Not even the day it hit 400 dollars per bitcoin. I actually made a small trade at 388$(buy).
Is it time to dump hard?
In which direction does the market need to move in order to scalp the most people of which this indicator is based on?
I would bet in that direction.
It reminds me of starfish. *
Ahhhhh, the starfish. Please let this be another starfish.
I'm glad someone in this thread remembers the starfish!
What is this starfish and snowball youll talkin bout?
I made this tampermonkey script to get the real values out of the bitfinex stats page for BSI - makes things a lot clearer.
Cool. Thanks.
Has anybody seen that.
I haven't seen that seen I started trading in bitfinex?
Not even the day it hit 400 dollars per bitcoin. I actually made a small trade at 388$(buy).
Is it time to dump hard?
I haven't seen that seen I started trading in bitfinex?
Not even the day it hit 400 dollars per bitcoin. I actually made a small trade at 388$(buy).
Is it time to dump hard?
In which direction does the market need to move in order to scalp the most people of which this indicator is based on?
I would bet in that direction.
It reminds me of starfish. *
Ahhhhh, the starfish. Please let this be another starfish.
The Bitfinex lending system doesn't work in the same way as Bitcoinica's did, so no more starfish I'm afraid. Now, snowballs on the other hand, are still possible, so we could see a sudden spike upwards.
Has anybody seen that.
I haven't seen that seen I started trading in bitfinex?
Not even the day it hit 400 dollars per bitcoin. I actually made a small trade at 388$(buy).
Is it time to dump hard?
I haven't seen that seen I started trading in bitfinex?
Not even the day it hit 400 dollars per bitcoin. I actually made a small trade at 388$(buy).
Is it time to dump hard?
In which direction does the market need to move in order to scalp the most people of which this indicator is based on?
I would bet in that direction.
It reminds me of starfish. *
Ahhhhh, the starfish. Please let this be another starfish.
ok that make sense, since shorts are lower interest like less than .2%. you'd also have to believe that about 5% of the total funds are just sitting there unused from ppl not noticing it or waiting on opportune time.
The loan amount includes all the loans available + taken. It's at $11.4MM now by the way. The interest rate is pretty high too. Something is about to going down, you can be sure of it...
Sure. It all depends on when these positions were open. If a decent amount of these positions were open sub 500, then get ready for fireworks soon, because I don't see prices going much higher than what it is now. I don't see why people would be going long at 600 or higher... especially with the china deadline and trends lately.
I made this tampermonkey script to get the real values out of the bitfinex stats page for BSI - makes things a lot clearer.
Changes the page like so:
Code:
// ==UserScript==
// @name BSI
// @namespace http://whatever.com/
// @version 0.1.2
// @description Reveasls real BSI
// @match https://bitfinex.com/pages/stats
// ==/UserScript==
$(document).ready(function() {
bull = parseInt($('div.progress.large-12.success.radius .meter').first().css('width'));
bear = parseInt($('div.progress.large-12.red.secondary.radius .meter').first().css('width'));
total = bull + bear;
bull = Math.round(bull/total*10000)/100;
bear = Math.round(bear/total*10000)/100;
$('div.progress.large-12.success.radius').prev().append('
});
// @name BSI
// @namespace http://whatever.com/
// @version 0.1.2
// @description Reveasls real BSI
// @match https://bitfinex.com/pages/stats
// ==/UserScript==
$(document).ready(function() {
bull = parseInt($('div.progress.large-12.success.radius .meter').first().css('width'));
bear = parseInt($('div.progress.large-12.red.secondary.radius .meter').first().css('width'));
total = bull + bear;
bull = Math.round(bull/total*10000)/100;
bear = Math.round(bear/total*10000)/100;
$('div.progress.large-12.success.radius').prev().append('
BSI ratio is '+bull+' : '+bear+'
');});
Changes the page like so:
ok that make sense, since shorts are lower interest like less than .2%. you'd also have to believe that about 5% of the total funds are just sitting there unused from ppl not noticing it or waiting on opportune time.
The loan amount includes all the loans available + taken. It's at $11.4MM now by the way. The interest rate is pretty high too. Something is about to going down, you can be sure of it...
ok that make sense, since shorts are lower interest like less than .2%. you'd also have to believe that about 5% of the total funds are just sitting there unused from ppl not noticing it or waiting on opportune time.
To open a 'short' or 'long' on the margin trading page, you are required to 'borrow' the corresponding amount of coins or usd from a lender, even if you possess the same amount yourself. So many people are taking 'loaned' positions even though they're not. I do this myself a lot when trading because I don't want to bother moving funds between my trading and exchange wallets and using two different wallets and two different pages.
Let's say I have 100 bitcoins in my trading wallet. With this, I can simply 'short' 100 bitcoins to sell 100 bitcoins instead of moving the 100 to my exchange wallet and 'selling'. Then, when I am bullish again, I can 'cover' 100 bitcoins instead of buying. Then I can immediately 'long' another 100 bitcoins to go on margin, on the same page, without transferring funds from the exchange wallet to the trading wallet. I can also do both of these at the same time by 'longing' 200 bitcoins. this will both cover the 100 bitcoin short and open a 100 bitcoin long at the same time. Another thing I could have done in the beginning, if I am extra bearish, is go 'short' 200 bitcoins which would negate my 100 bitcoins plus be truly 100 bitcoins short at the same time. Then when I'm ready, I can 'long' 300 bitcoins. This will cover the short, rebuy my bitcoins, and go long, all in the same trade, without moving around pages.
Now... The consequence of being lazy and using the margin trading page to 'long' when you actually have the funds to 'buy' or 'short' when you actually have the funds 'sell' is quite different. If you're buying btc, you have to pay ~1% interest per day on the USD. On the other hand, if you're selling btc, you have to pay ~0% interest on the BTC. Therefore, people are much more likely to do this with btc. This is what skews the indicator.
Let's say I have 100 bitcoins in my trading wallet. With this, I can simply 'short' 100 bitcoins to sell 100 bitcoins instead of moving the 100 to my exchange wallet and 'selling'. Then, when I am bullish again, I can 'cover' 100 bitcoins instead of buying. Then I can immediately 'long' another 100 bitcoins to go on margin, on the same page, without transferring funds from the exchange wallet to the trading wallet. I can also do both of these at the same time by 'longing' 200 bitcoins. this will both cover the 100 bitcoin short and open a 100 bitcoin long at the same time. Another thing I could have done in the beginning, if I am extra bearish, is go 'short' 200 bitcoins which would negate my 100 bitcoins plus be truly 100 bitcoins short at the same time. Then when I'm ready, I can 'long' 300 bitcoins. This will cover the short, rebuy my bitcoins, and go long, all in the same trade, without moving around pages.
Now... The consequence of being lazy and using the margin trading page to 'long' when you actually have the funds to 'buy' or 'short' when you actually have the funds 'sell' is quite different. If you're buying btc, you have to pay ~1% interest per day on the USD. On the other hand, if you're selling btc, you have to pay ~0% interest on the BTC. Therefore, people are much more likely to do this with btc. This is what skews the indicator.
You forget to mention the stress of opening such large positions and how you really have to be patient not to lose your shirt!
There's like over 10 million loaned out right now. Are most of these positions going long or just funds sitting there? Imagine if it is going long and people decided to liquidate, that would be a major sell off there.
To open a 'short' or 'long' on the margin trading page, you are required to 'borrow' the corresponding amount of coins or usd from a lender, even if you possess the same amount yourself. So many people are taking 'loaned' positions even though they're not. I do this myself a lot when trading because I don't want to bother moving funds between my trading and exchange wallets and using two different wallets and two different pages.
Let's say I have 100 bitcoins in my trading wallet. With this, I can simply 'short' 100 bitcoins to sell 100 bitcoins instead of moving the 100 to my exchange wallet and 'selling'. Then, when I am bullish again, I can 'cover' 100 bitcoins instead of buying. Then I can immediately 'long' another 100 bitcoins to go on margin, on the same page, without transferring funds from the exchange wallet to the trading wallet. I can also do both of these at the same time by 'longing' 200 bitcoins. this will both cover the 100 bitcoin short and open a 100 bitcoin long at the same time. Another thing I could have done in the beginning, if I am extra bearish, is go 'short' 200 bitcoins which would negate my 100 bitcoins plus be truly 100 bitcoins short at the same time. Then when I'm ready, I can 'long' 300 bitcoins. This will cover the short, rebuy my bitcoins, and go long, all in the same trade, without moving around pages.
Now... The consequence of being lazy and using the margin trading page to 'long' when you actually have the funds to 'buy' or 'short' when you actually have the funds 'sell' is quite different. If you're buying btc, you have to pay ~1% interest per day on the USD. On the other hand, if you're selling btc, you have to pay ~0% interest on the BTC. Therefore, people are much more likely to do this with btc. This is what skews the indicator.
Let's say I have 100 bitcoins in my trading wallet. With this, I can simply 'short' 100 bitcoins to sell 100 bitcoins instead of moving the 100 to my exchange wallet and 'selling'. Then, when I am bullish again, I can 'cover' 100 bitcoins instead of buying. Then I can immediately 'long' another 100 bitcoins to go on margin, on the same page, without transferring funds from the exchange wallet to the trading wallet. I can also do both of these at the same time by 'longing' 200 bitcoins. this will both cover the 100 bitcoin short and open a 100 bitcoin long at the same time. Another thing I could have done in the beginning, if I am extra bearish, is go 'short' 200 bitcoins which would negate my 100 bitcoins plus be truly 100 bitcoins short at the same time. Then when I'm ready, I can 'long' 300 bitcoins. This will cover the short, rebuy my bitcoins, and go long, all in the same trade, without moving around pages.
Now... The consequence of being lazy and using the margin trading page to 'long' when you actually have the funds to 'buy' or 'short' when you actually have the funds 'sell' is quite different. If you're buying btc, you have to pay ~1% interest per day on the USD. On the other hand, if you're selling btc, you have to pay ~0% interest on the BTC. Therefore, people are much more likely to do this with btc. This is what skews the indicator.
You forget to mention the stress of opening such large positions and how you really have to be patient not to lose your shirt!
There's like over 10 million loaned out right now. Are most of these positions going long or just funds sitting there? Imagine if it is going long and people decided to liquidate, that would be a major sell off there.
To open a 'short' or 'long' on the margin trading page, you are required to 'borrow' the corresponding amount of coins or usd from a lender, even if you possess the same amount yourself. So many people are taking 'loaned' positions even though they're not. I do this myself a lot when trading because I don't want to bother moving funds between my trading and exchange wallets and using two different wallets and two different pages.
Let's say I have 100 bitcoins in my trading wallet. With this, I can simply 'short' 100 bitcoins to sell 100 bitcoins instead of moving the 100 to my exchange wallet and 'selling'. Then, when I am bullish again, I can 'cover' 100 bitcoins instead of buying. Then I can immediately 'long' another 100 bitcoins to go on margin, on the same page, without transferring funds from the exchange wallet to the trading wallet. I can also do both of these at the same time by 'longing' 200 bitcoins. this will both cover the 100 bitcoin short and open a 100 bitcoin long at the same time. Another thing I could have done in the beginning, if I am extra bearish, is go 'short' 200 bitcoins which would negate my 100 bitcoins plus be truly 100 bitcoins short at the same time. Then when I'm ready, I can 'long' 300 bitcoins. This will cover the short, rebuy my bitcoins, and go long, all in the same trade, without moving around pages.
Now... The consequence of being lazy and using the margin trading page to 'long' when you actually have the funds to 'buy' or 'short' when you actually have the funds 'sell' is quite different. If you're buying btc, you have to pay ~1% interest per day on the USD. On the other hand, if you're selling btc, you have to pay ~0% interest on the BTC. Therefore, people are much more likely to do this with btc. This is what skews the indicator.
Let's say I have 100 bitcoins in my trading wallet. With this, I can simply 'short' 100 bitcoins to sell 100 bitcoins instead of moving the 100 to my exchange wallet and 'selling'. Then, when I am bullish again, I can 'cover' 100 bitcoins instead of buying. Then I can immediately 'long' another 100 bitcoins to go on margin, on the same page, without transferring funds from the exchange wallet to the trading wallet. I can also do both of these at the same time by 'longing' 200 bitcoins. this will both cover the 100 bitcoin short and open a 100 bitcoin long at the same time. Another thing I could have done in the beginning, if I am extra bearish, is go 'short' 200 bitcoins which would negate my 100 bitcoins plus be truly 100 bitcoins short at the same time. Then when I'm ready, I can 'long' 300 bitcoins. This will cover the short, rebuy my bitcoins, and go long, all in the same trade, without moving around pages.
Now... The consequence of being lazy and using the margin trading page to 'long' when you actually have the funds to 'buy' or 'short' when you actually have the funds 'sell' is quite different. If you're buying btc, you have to pay ~1% interest per day on the USD. On the other hand, if you're selling btc, you have to pay ~0% interest on the BTC. Therefore, people are much more likely to do this with btc. This is what skews the indicator.
You forget to mention the stress of opening such large positions and how you really have to be patient not to lose your shirt!
To open a 'short' or 'long' on the margin trading page, you are required to 'borrow' the corresponding amount of coins or usd from a lender, even if you possess the same amount yourself. So many people are taking 'loaned' positions even though they're not. I do this myself a lot when trading because I don't want to bother moving funds between my trading and exchange wallets and using two different wallets and two different pages.
Let's say I have 100 bitcoins in my trading wallet. With this, I can simply 'short' 100 bitcoins to sell 100 bitcoins instead of moving the 100 to my exchange wallet and 'selling'. Then, when I am bullish again, I can 'cover' 100 bitcoins instead of buying. Then I can immediately 'long' another 100 bitcoins to go on margin, on the same page, without transferring funds from the exchange wallet to the trading wallet. I can also do both of these at the same time by 'longing' 200 bitcoins. this will both cover the 100 bitcoin short and open a 100 bitcoin long at the same time. Another thing I could have done in the beginning, if I am extra bearish, is go 'short' 200 bitcoins which would negate my 100 bitcoins plus be truly 100 bitcoins short at the same time. Then when I'm ready, I can 'long' 300 bitcoins. This will cover the short, rebuy my bitcoins, and go long, all in the same trade, without moving around pages.
Now... The consequence of being lazy and using the margin trading page to 'long' when you actually have the funds to 'buy' or 'short' when you actually have the funds 'sell' is quite different. If you're buying btc, you have to pay ~1% interest per day on the USD. On the other hand, if you're selling btc, you have to pay ~0% interest on the BTC. Therefore, people are much more likely to do this with btc. This is what skews the indicator.
Let's say I have 100 bitcoins in my trading wallet. With this, I can simply 'short' 100 bitcoins to sell 100 bitcoins instead of moving the 100 to my exchange wallet and 'selling'. Then, when I am bullish again, I can 'cover' 100 bitcoins instead of buying. Then I can immediately 'long' another 100 bitcoins to go on margin, on the same page, without transferring funds from the exchange wallet to the trading wallet. I can also do both of these at the same time by 'longing' 200 bitcoins. this will both cover the 100 bitcoin short and open a 100 bitcoin long at the same time. Another thing I could have done in the beginning, if I am extra bearish, is go 'short' 200 bitcoins which would negate my 100 bitcoins plus be truly 100 bitcoins short at the same time. Then when I'm ready, I can 'long' 300 bitcoins. This will cover the short, rebuy my bitcoins, and go long, all in the same trade, without moving around pages.
Now... The consequence of being lazy and using the margin trading page to 'long' when you actually have the funds to 'buy' or 'short' when you actually have the funds 'sell' is quite different. If you're buying btc, you have to pay ~1% interest per day on the USD. On the other hand, if you're selling btc, you have to pay ~0% interest on the BTC. Therefore, people are much more likely to do this with btc. This is what skews the indicator.
You forget to mention the stress of opening such large positions and how you really have to be patient not to lose your shirt!
To open a 'short' or 'long' on the margin trading page, you are required to 'borrow' the corresponding amount of coins or usd from a lender, even if you possess the same amount yourself. So many people are taking 'loaned' positions even though they're not. I do this myself a lot when trading because I don't want to bother moving funds between my trading and exchange wallets and using two different wallets and two different pages.
Let's say I have 100 bitcoins in my trading wallet. With this, I can simply 'short' 100 bitcoins to sell 100 bitcoins instead of moving the 100 to my exchange wallet and 'selling'. Then, when I am bullish again, I can 'cover' 100 bitcoins instead of buying. Then I can immediately 'long' another 100 bitcoins to go on margin, on the same page, without transferring funds from the exchange wallet to the trading wallet. I can also do both of these at the same time by 'longing' 200 bitcoins. this will both cover the 100 bitcoin short and open a 100 bitcoin long at the same time. Another thing I could have done in the beginning, if I am extra bearish, is go 'short' 200 bitcoins which would negate my 100 bitcoins plus be truly 100 bitcoins short at the same time. Then when I'm ready, I can 'long' 300 bitcoins. This will cover the short, rebuy my bitcoins, and go long, all in the same trade, without moving around pages.
Now... The consequence of being lazy and using the margin trading page to 'long' when you actually have the funds to 'buy' or 'short' when you actually have the funds 'sell' is quite different. If you're buying btc, you have to pay ~1% interest per day on the USD. On the other hand, if you're selling btc, you have to pay ~0% interest on the BTC. Therefore, people are much more likely to do this with btc. This is what skews the indicator.
Let's say I have 100 bitcoins in my trading wallet. With this, I can simply 'short' 100 bitcoins to sell 100 bitcoins instead of moving the 100 to my exchange wallet and 'selling'. Then, when I am bullish again, I can 'cover' 100 bitcoins instead of buying. Then I can immediately 'long' another 100 bitcoins to go on margin, on the same page, without transferring funds from the exchange wallet to the trading wallet. I can also do both of these at the same time by 'longing' 200 bitcoins. this will both cover the 100 bitcoin short and open a 100 bitcoin long at the same time. Another thing I could have done in the beginning, if I am extra bearish, is go 'short' 200 bitcoins which would negate my 100 bitcoins plus be truly 100 bitcoins short at the same time. Then when I'm ready, I can 'long' 300 bitcoins. This will cover the short, rebuy my bitcoins, and go long, all in the same trade, without moving around pages.
Now... The consequence of being lazy and using the margin trading page to 'long' when you actually have the funds to 'buy' or 'short' when you actually have the funds 'sell' is quite different. If you're buying btc, you have to pay ~1% interest per day on the USD. On the other hand, if you're selling btc, you have to pay ~0% interest on the BTC. Therefore, people are much more likely to do this with btc. This is what skews the indicator.
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