So the little spike up to $2.50 that we just saw, did that take out a bunch of short orders? Maybe Bitcoinica caused it, since the price has now dropped back down almost to where it started 15 minutes ago.
Nah, that was someone trying to troll all the shorts. I hope none of you were liquidated and that you're hanging on.
We have decreased the default leverage, so volatility like this doesn't hurt most people. But some guys requested a change-back...
About 1/4 to 1/3 of the trades you see are from Bitcoinica. We tried to randomize our price and amount, but the pattern is still quite obvious. There are a lot of limit orders and stop orders at the price range, so we didn't hedge too much.
When will people learn not to use their maximum leverage? Max leverage = lower risk tolerance. Leave some breathing room, guys! Jeeze..
It's kind of sad that most brokers encourage their clients to use leverage, simply for more commission profits. We're terribly trained by our bankers and brokers.
Well then I guess its a good thing I dont trust bankers nor do I have a broker. The bankers used to make a lot of money off me but as of 2 weeks from now it will be a net loss to them and for the last several months it has been less than $3. If you do not have the currency to spend then you should not be spending it. Period.
The problem is, savings is evil (inflation), and credit is also evil (interest rates).
Fiat currencies are for economic growth, but they are invented for the rich.
Taking money from the poor and distribute it to the rich is good for economic growth, because the rich is good at making money for the country, therefore they technically deserve more economic power. We all hate it but it's just a sad truth.
It's hard to come up with an alternative. That's why government is a mess.
