Confirmed: Bitcoinica sold at $1.994 - page 3.

Crypt_Current

hero member

Activity: 686

Merit: 500

Shame on everything; regret nothing.

Quote from: Etlase2 on November 17, 2011, 12:07:04 PM

Quote from: Crypt_Current on November 17, 2011, 12:02:06 PM

EVERYONE:
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.

proudhon

legendary

Activity: 2198

Merit: 1311

Quote from: BadBear on November 17, 2011, 12:05:16 PM

i kinda feel bad for people getting liquidated but swimming always makes me feel better.

http://www.youtube.com/watch?v=MKISmzmO9Mw&feature=related

BadBear

legendary

Activity: 1652

Merit: 1128

Quote from: Etlase2 on November 17, 2011, 12:07:04 PM

Quote from: Crypt_Current on November 17, 2011, 12:02:06 PM

EVERYONE:
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.

BUY!

Etlase2

hero member

Activity: 798

Merit: 1000

Quote from: Crypt_Current on November 17, 2011, 12:02:06 PM

EVERYONE:
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.

BadBear

legendary

Activity: 1652

Merit: 1128

i kinda feel bad for people getting liquidated but swimming always makes me feel better.

Crypt_Current

hero member

Activity: 686

Merit: 500

Shame on everything; regret nothing.

Sooooooooooooooooooooo...

Now that Z has rolled back leverage to the 1970s, ...

... is price gonna go up? Huh

?

BUY BUY BUY BUY BUY BUY BUY

Crypt_Current

hero member

Activity: 686

Merit: 500

Shame on everything; regret nothing.

Quote from: zhoutong on November 17, 2011, 11:59:45 AM

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.

EVERYONE:
Told ya.

zhoutong

vip

Activity: 490

Merit: 502

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.

Topic: Confirmed: Bitcoinica sold at $1.994 - page 3. (Read 4214 times)