Everyone is in denial...
Zhoutounged!!!!!!!!!!!!!!!!
Topic: FUCK THIS - page 3. (Read 6214 times)
so... Zhou sold a gigantic stash of BTC on MtGox... in huge lumps. It was leveraged at 120,000 ASK-BTC, vs. 28,000 BID-BTC, for a couple hours. Then I would see 128k, jump to 60k, and think "phew", and then in the next 30-sec reload it'd be back over 100k again, so someone or some program was literally just shovelling on another 30k, and cackling demonically, right? Would it even make sense for Z to do this? Financially? Or are there old miners left hoarding their 400,000 BTC stashes? Or was it a coordinated panic? What d'you guys think?
How will we ever know for sure? The one thing that is certain is that people are getting hurt and this makes bitcoin look bad (again).
Or are there old miners left hoarding their 400,000 BTC stashes? Or was it a coordinated panic? What d'you guys think?
Looks like somebody did sell through 6.20 support and most recent longs at 1:10 ratio were started from around that level. So Z did what he needed to once the price broke 6.2 - sold all the poor soul's leveraged BTCs to cover losses, and that sparkled a chain reaction.
so... Zhou sold a gigantic stash of BTC on MtGox... in huge lumps. It was leveraged at 120,000 ASK-BTC, vs. 28,000 BID-BTC, for a couple hours. Then I would see 128k, jump to 60k, and think "phew", and then in the next 30-sec reload it'd be back over 100k again, so someone or some program was literally just shovelling on another 30k, and cackling demonically, right? Would it even make sense for Z to do this? Financially? Or are there old miners left hoarding their 400,000 BTC stashes? Or was it a coordinated panic? What d'you guys think?
everything at once +heavy whale manipulator
The price action is fucking crazy!
It's $5.50, then $6.19, then $5.05...spike city!
so... Zhou sold a gigantic stash of BTC on MtGox... in huge lumps. It was leveraged at 120,000 ASK-BTC, vs. 28,000 BID-BTC, for a couple hours. Then I would see 128k, jump to 60k, and think "phew", and then in the next 30-sec reload it'd be back over 100k again, so someone or some program was literally just shovelling on another 30k, and cackling demonically, right? Would it even make sense for Z to do this? Financially? Or are there old miners left hoarding their 400,000 BTC stashes? Or was it a coordinated panic? What d'you guys think?
How is tripping the liquidate levels for tons of people Bad for Zhou ?
so... Zhou sold a gigantic stash of BTC on MtGox... in huge lumps. It was leveraged at 120,000 ASK-BTC, vs. 28,000 BID-BTC, for a couple hours. Then I would see 128k, jump to 60k, and think "phew", and then in the next 30-sec reload it'd be back over 100k again, so someone or some program was literally just shovelling on another 30k, and cackling demonically, right? Would it even make sense for Z to do this? Financially? Or are there old miners left hoarding their 400,000 BTC stashes? Or was it a coordinated panic? What d'you guys think?
I'm pissed since I have had a buy order "in queue" for ten minutes already! 
Edit: About 12 minutes to change to "active". Thanks Gox!!!
Edit: About 12 minutes to change to "active". Thanks Gox!!!
+1,000,000
me too. mtgox is a ridiculously shitty service for the money they're taking from me
The price action is fucking crazy!
All the care in the world is not going to stop someone from flinging a huge sell or buy and send the
market in an instant $2.00 spike.
Yeah right but unless you play with borrowed money, you should be only grateful when that happens - it's just a good opportunity to buy or sell at the artificial level.
Never borrow money, do it the old fashioned way here. Averse to margin and Bitcoinica style of trading.
Lets all remember to be pissed of at MtGox for their terrible API/sockets too!
Yes!! I hate just having to guess the price, and not see the trade go thru for like 5 minutes, still made alot of bitcoin tonight thought, full in bitcoin now.
Lets all remember to be pissed of at MtGox for their terrible API/sockets too!
One is clearly more devious than the other.
LOL!
$1.30 spread on Bitcoinica?
$1.30 spread on Bitcoinica?
Lets all remember to be pissed of at MtGox for their terrible API/sockets too!
It's interesting to see where we are after the dust settles, which could take a while. There is going to be high volumes this week. 
I guess we would quickly return to 6+, but with healthier situation now that the leveraged kamikazes are all cleared out.
*thumb_up*
+1
All the care in the world is not going to stop someone from flinging a huge sell or buy and send the
market in an instant $2.00 spike.
Yeah right but unless you play with borrowed money, you should be only grateful when that happens - it's just a good opportunity to buy or sell at the artificial level.
And we are back 
I love Bitcoin so much
I love Bitcoin so much
Bitcoinica's a massive pain in the arse. I'd much rather it didn't exist.
I'm pissed since I have had a buy order "in queue" for ten minutes already!
Edit: About 12 minutes to change to "active". Thanks Gox!!!
Edit: About 12 minutes to change to "active". Thanks Gox!!!
I guess we would quickly return to 6+, but with healthier situation now that the leveraged kamikazes are all cleared out.
Indeed. I see this as a much needed learning process. This will teach people to be more careful.All the care in the world is not going to stop someone from flinging a huge sell or buy and send the
market in an instant $2.00 spike.
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