Topic: How many of you have been Zhoutonged? - page 3. (Read 26392 times)
WHY CAN’T I BUY MORE ON LEVERAGE BITCOINICA?
I have feelings between angry and amused everytime I see the asterix.
Oh FFS!
theres only so much leverage to go around and most of the players who had it the last couple of days just coughed it over to the stronger hands with deeper margin accts who won't be giving it back.
Doesn’t look like it, man.
be patient.
theres only so much leverage to go around and most of the players who had it the last couple of days just coughed it over to the stronger hands with deeper margin accts who won't be giving it back.
Doesn’t look like it, man. 
tl;dr: lost 1400 btc + $2k, pissed at manipulator roughly manipulating fragile market rather than caressing it tenderly
The sad thing isn't that you lost the coins because of the margin; but because you lost them from an artificial limit (the mtgox daily withdraw limit).
You sure about that? If that's the case I'm definitely pulling totally out until they get off mtgox. Damn php hack that it is!
Bitcoinica really should run its own exchange, which would also have the effect of keeping the spread to a minimum.
today must have been a real zhoutonging day, or am i wrong?
tl;dr: lost 1400 btc + $2k, pissed at manipulator roughly manipulating fragile market rather than caressing it tenderly
The sad thing isn't that you lost the coins because of the margin; but because you lost them from an artificial limit (the mtgox daily withdraw limit).
You sure about that? If that's the case I'm definitely pulling totally out until they get off mtgox. Damn php hack that it is!
ZHOUTONGED!! 
Damnit I had orders in @ $5.75. I think the whole idea of the site is kinda pointless if you can't leverage. May as well trade on Gox.
but u dint go long ?Damnit I had orders in @ $5.75. I think the whole idea of the site is kinda pointless if you can't leverage. May as well trade on Gox.
That's what I thought too!
theres only so much leverage to go around and most of the players who had it the last couple of days just coughed it over to the stronger hands with deeper margin accts who won't be giving it back.
ZHOUTONGED!!
Damnit I had orders in @ $5.75. I think the whole idea of the site is kinda pointless if you can't leverage. May as well trade on Gox.
but u dint go long ?Damnit I had orders in @ $5.75. I think the whole idea of the site is kinda pointless if you can't leverage. May as well trade on Gox.
That's what I thought too!
theres only so much leverage to go around and most of the players who had it the last couple of days just coughed it over to the stronger hands with deeper margin accts who won't be giving it back.
oh my.
the USD is taking a dump tonite and the Dow futures, gold, silver, and oil just jumped.
UP we go.
the USD is taking a dump tonite and the Dow futures, gold, silver, and oil just jumped.
UP we go.
ZHOUTONGED!!
Damnit I had orders in @ $5.75. I think the whole idea of the site is kinda pointless if you can't leverage. May as well trade on Gox.
Damnit I had orders in @ $5.75. I think the whole idea of the site is kinda pointless if you can't leverage. May as well trade on Gox.
tl;dr: lost 1400 btc + $2k, pissed at manipulator roughly manipulating fragile market rather than caressing it tenderly
The sad thing isn't that you lost the coins because of the margin; but because you lost them from an artificial limit (the mtgox daily withdraw limit).
Expecting good will from people trying to make money seems naive to me.
Yeah, perhaps I'm projecting to think that there are others here for ideological reasons rather than trying to maximize profits. The pyramid scheme aspect of bitcoin rather turns me off, to tell you the truth, though I see no other solution to the distributional issues of a new currency system.And at least some (presumably greedy) speculators are needed to increase liquidity, and I have no problem with that. It's intentional large-scale market manipulation that turns me off. It might sound like a comic book, but with power comes responsibility, and someone is playing god in a sandbox. I expect more, and I am disappoint.
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Edit: Don't get me wrong, I applaud anyone trying to bring stability. Unfortunately, you not only failed, you contributed to the opposite.
Yep, I did contribute to the problem - as I said, the plan backfired. 
My self-prescribed penitence is that I sold off all my coins at a loss, and have orders in the $4.x range help catch another fall, if there is one.Also, I feel like I need a break as I'm also annoyed with the whole bitcoin trading infrastructure:
* MtGox orders sat in the queue for 5-10 minutes. Hundreds of traders shouldn't be able to bring a server to it's knees. This isn't like serving up 1Gbps video to thousands of people; it's just a few numbers moving around, and a 386 could handle their order volume if written correctly.
* MtGoxLive going down or stuttering (which was actually kind of funny). Even under light load, there's a lag of 10-20 seconds between when I make an order, and when it appears on Mt. Gox. Not to mention the huge CPU load
* Moody's being down much of the day
* bitcoinity is still down
* and I don't even need to mention the issues with bitcoinica.
The whole system is rinky-dink and immature, but I suppose I shouldn't be surprised given that bitcoin is barely 3 years old.
Ironically, I believe Zhoutong's new plans will help with this. Especially if he winds up having his own order book and hedging on multiple exchanges. It will kill the profits of many arbitrage traders, but it will increase liquidity and trading speed for everyone.
Expecting good will from people trying to make money seems naive to me.
Yeah, perhaps I'm projecting to think that there are others here for ideological reasons rather than trying to maximize profits. The pyramid scheme aspect of bitcoin rather turns me off, to tell you the truth, though I see no other solution to the distributional issues of a new currency system.And at least some (presumably greedy) speculators are needed to increase liquidity, and I have no problem with that. It's intentional large-scale market manipulation that turns me off. It might sound like a comic book, but with power comes responsibility, and someone is playing god in a sandbox. I expect more, and I am disappoint.
Quote
Edit: Don't get me wrong, I applaud anyone trying to bring stability. Unfortunately, you not only failed, you contributed to the opposite.
Yep, I did contribute to the problem - as I said, the plan backfired. My self-prescribed penitence is that I sold off all my coins at a loss, and have orders in the $4.x range help catch another fall, if there is one.Also, I feel like I need a break as I'm also annoyed with the whole bitcoin trading infrastructure:
* MtGox orders sat in the queue for 5-10 minutes. Hundreds of traders shouldn't be able to bring a server to it's knees. This isn't like serving up 1Gbps video to thousands of people; it's just a few numbers moving around, and a 386 could handle their order volume if written correctly.
* MtGoxLive going down or stuttering (which was actually kind of funny). Even under light load, there's a lag of 10-20 seconds between when I make an order, and when it appears on Mt. Gox. Not to mention the huge CPU load
* Moody's being down much of the day
* bitcoinity is still down
* and I don't even need to mention the issues with bitcoinica.
The whole system is rinky-dink and immature, but I suppose I shouldn't be surprised given that bitcoin is barely 3 years old.
Got liquidated @$~5(leverage @2.5+1 BTC reserve), lost 1k BTC . Just thought I can take advantage of Zhou's zero interest loan, it proved that is not a good idea.
. Just thought I can take advantage of Zhou's zero interest loan, it proved that is not a good idea. I still think it was the right idea to help to reduce market volatility, but poor execution. I was temporarily overleveraged since free money day was a one day only event, and I was moving over the max allowable from Mt.Gox to Bitcoinica every day since free money day to back it up, but the crash happened sooner than expected. Were the crash to have happened tomorrow instead, I would have been fine.
Bitcoin can't be stable at this exchange rate.
It's going to need magnitudes more people involved, a much higher exchange rate, and a much greater distribution of coins.
When one (I don't even want to say rich here, because you don't need to be "rich" to move this market) slightly well off individual can push the market by a large percentage, it can't be stable.
Expecting good will from people trying to make money seems naive to me.
Edit: Don't get me wrong, I applaud anyone trying to bring stability. Unfortunately, you not only failed, you contributed to the opposite.
+1.
Remember, when there is a special event and you are tempted to "take advantage of the opportunity", so are lots of others. And when that opportunity involves taking out a loan to speculate, you're asking for trouble if you don't count on many of those loan takers losing.
Nice guys, nice.
all day no buying on bitcoinica. lol.
I still think it was the right idea to help to reduce market volatility, but poor execution. I was temporarily overleveraged since free money day was a one day only event, and I was moving over the max allowable from Mt.Gox to Bitcoinica every day since free money day to back it up, but the crash happened sooner than expected. Were the crash to have happened tomorrow instead, I would have been fine.
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