Saw some people discussing about the "manipulator" sold below $2.
It's not the manipulator, but Bitcoinica.
It's not the manipulator, but Bitcoinica.
Thanks for the openness.
Topic: Confirmed: Bitcoinica sold at $1.994 - page 2. (Read 4133 times)
Thanks for the openness.
I liked the roller coaster one better before you changed it.
A drunk robot seemed more appropriate.
Bid 1.7 1496.03
Bid 1.75 3472.8
Bid 1.8 21956.05
Bid 1.85 2873.66
Bid 1.9 10857.26
Bid 1.95 2099.6
Bid 2 4532.92
Bid 2.05 570.77
Bid 2.1 23670.31
Bid 2.15 3589.13
Bid 2.2 2329.81
No manipulator, than explain the bid wall in red, which is normally 50,000. See how he tries and pushes the price higher by placing his bid wall, than he pushes it with smaller bidwalls above his big one. The 2.15 and 2.2 bid walls, were created by him to push the price higher. He probably bought some to get those up.
He will than move his huge bid wall up higher as he slowly pushes the price higher.
This is pure manipulation to get the price higher. Why would he want the price higher if he wanted to just buy them to hold? The reason is he holds now at least 200,000 to 500,000 in bought bitcoins. I have seen his bid walls get sold into numerous times. Even with bitcoinica selling those 25K coins, he bought most of them. I have seen many of his 10K bid walls get taken right down. He is trying to protect his huge bitcoin investment and is very desperate at this point.
It is so easy to see his tactics, just keep checking Mt. Gox. charts to see him in action.
Bid 1.75 3472.8
Bid 1.8 21956.05
Bid 1.85 2873.66
Bid 1.9 10857.26
Bid 1.95 2099.6
Bid 2 4532.92
Bid 2.05 570.77
Bid 2.1 23670.31
Bid 2.15 3589.13
Bid 2.2 2329.81
No manipulator, than explain the bid wall in red, which is normally 50,000. See how he tries and pushes the price higher by placing his bid wall, than he pushes it with smaller bidwalls above his big one. The 2.15 and 2.2 bid walls, were created by him to push the price higher. He probably bought some to get those up.
He will than move his huge bid wall up higher as he slowly pushes the price higher.
This is pure manipulation to get the price higher. Why would he want the price higher if he wanted to just buy them to hold? The reason is he holds now at least 200,000 to 500,000 in bought bitcoins. I have seen his bid walls get sold into numerous times. Even with bitcoinica selling those 25K coins, he bought most of them. I have seen many of his 10K bid walls get taken right down. He is trying to protect his huge bitcoin investment and is very desperate at this point.
It is so easy to see his tactics, just keep checking Mt. Gox. charts to see him in action.
I had thought Bitcoinica was responsible for that, but I suppose I'll have to go back to the drawing board.
Bid 1.7 1496.03
Bid 1.75 3472.8
Bid 1.8 21956.05
Bid 1.85 2873.66
Bid 1.9 10857.26
Bid 1.95 2099.6
Bid 2 4532.92
Bid 2.05 570.77
Bid 2.1 23670.31
Bid 2.15 3589.13
Bid 2.2 2329.81
No manipulator, than explain the bid wall in red, which is normally 50,000. See how he tries and pushes the price higher by placing his bid wall, than he pushes it with smaller bidwalls above his big one. The 2.15 and 2.2 bid walls, were created by him to push the price higher. He probably bought some to get those up.
He will than move his huge bid wall up higher as he slowly pushes the price higher.
This is pure manipulation to get the price higher. Why would he want the price higher if he wanted to just buy them to hold? The reason is he holds now at least 200,000 to 500,000 in bought bitcoins. I have seen his bid walls get sold into numerous times. Even with bitcoinica selling those 25K coins, he bought most of them. I have seen many of his 10K bid walls get taken right down. He is trying to protect his huge bitcoin investment and is very desperate at this point.
It is so easy to see his tactics, just keep checking Mt. Gox. charts to see him in action.
Bid 1.75 3472.8
Bid 1.8 21956.05
Bid 1.85 2873.66
Bid 1.9 10857.26
Bid 1.95 2099.6
Bid 2 4532.92
Bid 2.05 570.77
Bid 2.1 23670.31
Bid 2.15 3589.13
Bid 2.2 2329.81
No manipulator, than explain the bid wall in red, which is normally 50,000. See how he tries and pushes the price higher by placing his bid wall, than he pushes it with smaller bidwalls above his big one. The 2.15 and 2.2 bid walls, were created by him to push the price higher. He probably bought some to get those up.
He will than move his huge bid wall up higher as he slowly pushes the price higher.
This is pure manipulation to get the price higher. Why would he want the price higher if he wanted to just buy them to hold? The reason is he holds now at least 200,000 to 500,000 in bought bitcoins. I have seen his bid walls get sold into numerous times. Even with bitcoinica selling those 25K coins, he bought most of them. I have seen many of his 10K bid walls get taken right down. He is trying to protect his huge bitcoin investment and is very desperate at this point.
It is so easy to see his tactics, just keep checking Mt. Gox. charts to see him in action.
i kinda feel bad for people getting liquidated but swimming always makes me feel better.
http://www.youtube.com/watch?v=MKISmzmO9Mw&feature=related
Thanks, also has the leverage been reduced globally or have I received a margin call? It only shows 2.5 now..
If you get a margin call, you'll know it -- a big reddish-pink box will pop up at the top of the page explaining in detail your margin call.
This happens when your net value falls below 2x your maintenance.
Thanks, also has the leverage been reduced globally or have I received a margin call? It only shows 2.5 now..
Reduced globally.
If you want to request for changing back, email to [email protected]
Cool, thanks for that info.
Thanks, also has the leverage been reduced globally or have I received a margin call? It only shows 2.5 now..
Reduced globally.
If you want to request for changing back, email to [email protected]
Thanks, also has the leverage been reduced globally or have I received a margin call? It only shows 2.5 now..
Bitcoinica offers guaranteed liquidity, so sometimes we may lose, but most time the slippage is within the spreads.
Especially with a market order how is that guaranteed? Only for a block of 50 BTC? How do I find the spread for a larger amount?
What are these numbers above the prices? (0-9)
The price you see is immediately available for trading. Your market orders can be executed immediately. Our bot will simply get the price from the database and add the position into your account. Matching and hedging will be done later.
If you trade more than 50 BTC, it will be split into multiple orders of 50 BTC. There will be a reasonable interval such as 5 seconds between them during the execution to allow the price to change.
The small number is a pipette. It's simply the 5th digit. Most forex brokerages use this format to show "pips" (0.0001) clearly while providing more precision.
Bitcoinica offers guaranteed liquidity, so sometimes we may lose, but most time the slippage is within the spreads.
Especially with a market order how is that guaranteed? Only for a block of 50 BTC? How do I find the spread for a larger amount?
What are these numbers above the prices? (0-9)
Saw some people discussing about the "manipulator" sold below $2.
It's not the manipulator, but Bitcoinica. Our system liquidated a lot of positions at the price around $2.
We sent three limit orders to Mt. Gox for hedging:
SELL 19693.42 BTC at $2.00778
SELL 3130.5 BTC at $1.81321
SELL 3083.0 BTC at $1.81253
Apparently, the lowest price hit $1.994. We have been continuously warning our clients about the risk of margin trading. However, this was an inevitable outcome as the bot is unable to judge whether the price will go lower.
In order to protect our customers, we have lowered the default leverage to 2.5:1, while still preserving their freedom of choice.
This post is not intended for anything. Just to let you guys know so that you know what happened.
It's not the manipulator, but Bitcoinica. Our system liquidated a lot of positions at the price around $2.
We sent three limit orders to Mt. Gox for hedging:
SELL 19693.42 BTC at $2.00778
SELL 3130.5 BTC at $1.81321
SELL 3083.0 BTC at $1.81253
Apparently, the lowest price hit $1.994. We have been continuously warning our clients about the risk of margin trading. However, this was an inevitable outcome as the bot is unable to judge whether the price will go lower.
In order to protect our customers, we have lowered the default leverage to 2.5:1, while still preserving their freedom of choice.
This post is not intended for anything. Just to let you guys know so that you know what happened.
I guess bitcoinica's not responsible for this wall at 2.10 then?
No, unless the slippage is too large that we can't find a correct price to trade at, we don't leave any orders open.
Bitcoinica offers guaranteed liquidity, so sometimes we may lose, but most time the slippage is within the spreads.
SOOOO... it's more likely that this 2.10 wall is fake. That's my personal conclusion.
Saw some people discussing about the "manipulator" sold below $2.
It's not the manipulator, but Bitcoinica. Our system liquidated a lot of positions at the price around $2.
We sent three limit orders to Mt. Gox for hedging:
SELL 19693.42 BTC at $2.00778
SELL 3130.5 BTC at $1.81321
SELL 3083.0 BTC at $1.81253
Apparently, the lowest price hit $1.994. We have been continuously warning our clients about the risk of margin trading. However, this was an inevitable outcome as the bot is unable to judge whether the price will go lower.
In order to protect our customers, we have lowered the default leverage to 2.5:1, while still preserving their freedom of choice.
This post is not intended for anything. Just to let you guys know so that you know what happened.
It's not the manipulator, but Bitcoinica. Our system liquidated a lot of positions at the price around $2.
We sent three limit orders to Mt. Gox for hedging:
SELL 19693.42 BTC at $2.00778
SELL 3130.5 BTC at $1.81321
SELL 3083.0 BTC at $1.81253
Apparently, the lowest price hit $1.994. We have been continuously warning our clients about the risk of margin trading. However, this was an inevitable outcome as the bot is unable to judge whether the price will go lower.
In order to protect our customers, we have lowered the default leverage to 2.5:1, while still preserving their freedom of choice.
This post is not intended for anything. Just to let you guys know so that you know what happened.
I guess bitcoinica's not responsible for this wall at 2.10 then?
No, unless the slippage is too large that we can't find a correct price to trade at, we don't leave any orders open.
Bitcoinica offers guaranteed liquidity, so sometimes we may lose, but most time the slippage is within the spreads.
EVERYONE:
Told ya.
Told ya.
Told us what? That 0.3% of the coins available dropped the market another 10-20%? Jump for joy, the return to prosperity is here.
I've been saying all over the place on these forums the past few days, there is no "manipulator", if there was, the most likely candidate would not be any person per se, but an organization that moves lots of btc for its operation, aka Bitcoinica.
It's a fair comment. But as far as I have observed, manipulator exists. Bitcoinica don't place walls. It's just a dark pool that removes liquidity from the market when there's liquidity at favorable or unfavorable prices.
Keep in mind that all trades executed by Bitcoinica are completely automated. Even though I do have a personal account and I sometimes trade, I don't trade based on the information about my clients and I never trade more than 300 BTC.
Saw some people discussing about the "manipulator" sold below $2.
It's not the manipulator, but Bitcoinica. Our system liquidated a lot of positions at the price around $2.
We sent three limit orders to Mt. Gox for hedging:
SELL 19693.42 BTC at $2.00778
SELL 3130.5 BTC at $1.81321
SELL 3083.0 BTC at $1.81253
Apparently, the lowest price hit $1.994. We have been continuously warning our clients about the risk of margin trading. However, this was an inevitable outcome as the bot is unable to judge whether the price will go lower.
In order to protect our customers, we have lowered the default leverage to 2.5:1, while still preserving their freedom of choice.
This post is not intended for anything. Just to let you guys know so that you know what happened.
It's not the manipulator, but Bitcoinica. Our system liquidated a lot of positions at the price around $2.
We sent three limit orders to Mt. Gox for hedging:
SELL 19693.42 BTC at $2.00778
SELL 3130.5 BTC at $1.81321
SELL 3083.0 BTC at $1.81253
Apparently, the lowest price hit $1.994. We have been continuously warning our clients about the risk of margin trading. However, this was an inevitable outcome as the bot is unable to judge whether the price will go lower.
In order to protect our customers, we have lowered the default leverage to 2.5:1, while still preserving their freedom of choice.
This post is not intended for anything. Just to let you guys know so that you know what happened.
I guess bitcoinica's not responsible for this wall at 2.10 then?
I would be a fool not to give you my money.
I've been saying all over the place on these forums the past few days, there is no "manipulator", if there was, the most likely candidate would not be any person per se, but an organization that moves lots of btc for its operation, aka Bitcoinica.
Right, so the drop to $1.994 was just a bad day at the market. Gotcha. BUY BUY BUY
YES INDEED BUY BUY BUY BUY BUY BUY BUY... you, I mean. Not me. :-D
I've been saying all over the place on these forums the past few days, there is no "manipulator", if there was, the most likely candidate would not be any person per se, but an organization that moves lots of btc for its operation, aka Bitcoinica.
Right, so the drop to $1.994 was just a bad day at the market. Gotcha. BUY BUY BUY
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