Topic: Lose all your capital fast, with MatTheCat and his TA 101A! - page 18. (Read 85774 times)

We are more than a hundred bucks off your magical target. I am still very much in the black. And you know what I will do if we ever do go below my average buyin? I will buy more.

And you are doing the letters instead of words thing again. Come on, it's too easy a tell.

I am just a little bit of a headcase Ibian.

You on the otherhand are a rather vile, thin skinned, and vain individual. I suspect most people can read between the lines and see that.

Depends if they are on our team or not.

There are two opposed psychologies among humans. It's a scale, not absolute categories. mat and me are on opposite ends. You are somewhere in the middle, and therefore unable to differentiate.

Fuck u Ibian!

Where is all ya Bitcoin profits gone? Up in smoke is where, and Bitcoin is right back down below your cost average buy-in price, and knowing that puts a smile on my face, u stupid thick skulled pig ignorant cunt.

Did u enjoy the ride down to $450 like I told you was gonna happen?

$560 now though....soon all will be well again for you hodlers, right?



I never got my funds out of Finex, cos I just so happened to have misplaced my mobile phone (required for 2FA) when the time was opportune for doing so (I convert USD to BTC, BTC to LocalBTC, and then to GBP). I had my limit orders on Finex when I realised I had no way of doing the 2FA to withdraw from the site. I phoned the person in whose home I had left my mobile, but no joy. By the time I had my mobile back in my possession, the wedge was getting very thin, and I was fearing large dumps all the way down to $500 and below before I could get all my worthless vaporous BTC converted into GBP. Those big dumps did indeed come, and did indeed start before Finex got hacked.

When Finex got hacked, I never had BTC in my account, I had USD. I should be fine so long as Finex is able to continue to operate solvently. If they are insolvent, then I guess the losses shall be socialised. Whatever happens, I shall be cutting any financial involvement with BTC, permantently and whatever happens, and however much I end up losing, I know that your own losses will add up to so so much more.

u stupid fucking cock.

"The worst enemy you can meet will always be yourself" - Fredrick Nietzsche

...

How we treat others when they are down is one of the purest reflections on who we are. I have provided advice unthread that I think will help. I will now bow out of the conversation.

No? Okay. Mat is a fucking loser who intentionally sabotages himself in order to get pity parties thrown for him.

Here is where MatTheCat warned others about shady happenings at Bitfinex
https://bitcointalksearch.org/topic/m.7444557

One month ago I warned others to stay away from Bitfinex something I would not have known to do had it not been for MatTheCats information
https://bitcointalksearch.org/topic/m.15428581


Recently MatTheCat has provided another highly concerning warning about another potentially problematic exchange.
https://bitcointalksearch.org/topic/m.15656643

 

Except that a lot of people take him as a reverse indicator. Let's meet halfway and call it a non-event.

He has performed a public service by highlighting to the community the dangers of various exchanges. Unfortunately it appears his desire for leverage lead him to ignore his own good advice. I feel bad for him and so should the community. I suspect he saved some people money with his accurate warnings about bitfinex.  

Reminder that mat likes the victim role. He intentionally points his naked ass in the air, and then complains about how much being butt fucked hurts. This is why he has "reasons" for not turning his bitcoins into fiat. He wants to be a martyr.

Edit: Hat tip to sgbett for an even better analysis. It is the same basic psychological profile, but he said it so much better.

Participate in a market without leverage and in the safest available exchange probably Gemini at the moment but opinions on this may vary.

Don't let desire for outsized gains using high margin accounts allow you to get sucked into placing your BTC into shady hands. With the failure of Bitfinix it is inevitable that before too long some new shady exchange will open offering 10X or 20X leverage. It will not be a good idea to place bitcoin with this exchange.

Decide if you believe bitcoin has a chance at a long term future. If you believe it does as I do decide on how much exposure you are willing to take long term.

Hedge you bets, keep at least 50% preferably more of your BTC offline in cold storage. A well vetted open source code used to create paper wallets is https://www.bitaddress.org/ but do your homework here.

Set long term goals that free you from day to day worry about price. Personally I have set my own investment goal as a number of BTC that I wish to own. As I have not yet hit this goal unlike most I am happy when the price goes down. Plan ahead with your Bitcoins. I did not start buying BTC until 2014 but the ones I do buy get divided into three separate categories

1) Long term cold storage. These I have set aside to give to my kids when they grow up. They are either going to be worth something or nothing but regardless these do not get touched no matter what happens to BTC price under any circumstances.

2) Long term investment. These I will start to sell if I achieve certain predetermined gains. I have decided ahead of time how many I will sell and at what price I will sell at.

3) Short term investment. These I can do whatever I want with including day trading though I do not do that currently. These I will liquidate if I need funds if I find a more attractive investment or if become concerned about short term price outlook.

Not defending them at all.....but Finex were by far the most liquid (phantom volume and phantom wall activity notwithstanding) USD Bitcoin exchange around. Whether Finex comes back online and resumes trading after this or not, Finex's status as #1 Western BTC exchange, is going to change. I have fallen out with Bitfinex in the past, and have pulled all my funds from the exchange voying never to use them again.....

.....but what are the alternatives?

...not very many. One alternative was Kraken, but crap liquidity, expensive BTC swap rates for shorts, so needless to say, I have found myself back at Bitfinex, and thank fuck I did, otherwise I would have lost several thousand USD by now due to Kraken's much less publicised security breach on 20th July. As it stands with Bitfinex, I may have lost thousands of USD, I may not have lost anything, or I may have to take a haircut on what I had in my Finex account.

Traders are far more likely to 'forgive' incidences of blatant insider trading and exchange stop runs, often with the belief that they just need to trade smarter etc....blatant theft and emptying of accounts is however, a completely different matter. Even Finex account holders who end up not getting robbed, this experience will certainly give them food for thought. As I said before, there is absolutely no reason why a trader should have to put up with this level of corruption and risk, just in order to trade Bitcoin. Been a very long time since Bitcoin offered any gains beyond what can be much more easily got in the stock markets.....or in Forex if margin trading is taken into consideration.

 

Their business reputation is already destroyed, has been for a while with all scammy crap they have routinely pulled.  So now you are defending them?

Totally destroy their businesses reputation for the sake of a quick jackpot cash-in bonanza?

And risk criminal prosecution if it came to light that this was all an elaborate scam?

I swear, if Bitfinex comes out saying that they've recovered most if not all the missing bitcoin, then we will KNOW that this all was just an elaborate scam to crash the market so that they could short it.

I was naive back then.

If an individual or a group of individuals run/own/operate a financial trading exchange, that is subject to no regulatory oversight and doesn't need to comply with any of the normal financial rules, then rather than suspected, it should be expected that individuals with back end access to the exchange, can and will trade against their own customers, front running them in the process, triggering weak hands into thier buy/sell orders wherever and whenever they can.

Indeed, since then, one of the main stakeholders in Finex has admitted that he traded on his own exchange, although he did claim that he only used the exchange for large market buy or sell orders. Whether anyone wants to believe him about that, then that is up to them. I know I don't, and I know that this will be only the tip of the iceberg.....


Regarding dubious individuals operating behind the scenes at Bitfinex, this went up on reddit a while ago:

https://www.reddit.com/r/BitcoinMarkets/comments/4vtv1m/bitfinex_down_due_to_bitcoin_security_breach/d62dnnt?context=3

Rumour Mill: Hacker has been caught and was Bitfinex employee. Whether true or not I don't know....I certainly hope that it is.

Why would anyone ever put money into something called the Kraken? Just think about the name of it for a moment. Sound like a good place to deposit and trade?

You warnings and writings about Bitfinex probably helped others. I do not trade but I posted links to some of your post to warn other about Bitfinix in the past.

I suspect you have probably saved a number of people from losing money in this recent mess. Not sure if that helps or not but it is something.


Your posts from some time ago MatTheCat convinced me that Bitfinex was at the very least unprofessionally run. I still remember being shocked when the exchange operator disclosed you account balance on a public forum and sounded like a small angry child when you pointed out some shady behavior.

Personally I suspect the failure of Bitfinex was inevitable based on that behavior alone and that it was just a question of when.

Correct.

Except b4 I learned about even what a MACD was...I did make thousands trading Bitcoin, and my instinct did kick in right at the top, and I did get out at the top, and I did buy the first big drop, etc etc.....I also bought the 2nd drop, but it dropped much further than I anticipated and I ended up taking a $2K hit on a trade that would have turned into a $6K win had I just held for another couple of weeks......

......I then decided to start learning a little about TA. Since then, I have lost way more than I have won in Bitcoin. I forgot about Bitcoin for a long time, bought in $200 range in 2015, then got all fucked up once again in the Nov 2015 FOMO and then the Nov Panic Sell, and ended up losing a fucking packet once again....I then decided to learn TA properly, and pay to do an online trading course.

Since then, I have made more profit than loss, but the Kraken theft has eaten into much of those profits and if my Finex account just dissappears into the ether of corporate insolvency and/or socialised losses....then man oh man......I will sorely regret the day that I even first heard of Bitcoin, which to rub salt in the wounds, was indeed way back in 2011....

....only positive effect that I could say Bitcoin has had on my life so far, is that it has enabled darknet markets, and the procurement of Mescaline.....a truly wonderful substance. Other than that, it has just been a total headfuck and a huge financial drain.......I can't wait to see the back of it tbh.


I also believe that I would be able to trade other assets way more affectively than I do Bitcoin, precisely because of all the emotional turmoil and baggage that I have associated with Bitcoin.


However, sgbett, if you are still long term bullish on Bitcoin, after 120K BTC (which will be slowly drip fed onto the market as a stream of steady selling pressure) was just stolen from by far the biggest  and most liquid USD exchange around, then I really do have to question your wisdom, if not your sanity. Sure, Bitcoin could easily recover $100-$150 at some point in the future. That is what markets do. They go up and down. I was bearish on Bitcoin before these hacks (surprise surprise), and have touted $450 as a downside target for some time, but this massive Finex theft totally reorganises the Fundamental outlook for Bitcoin, and don't forget. $500 is now the price that the Chinese miners need just to break even! Bitcoin is critically ill, and destined for intensive care imo, and I have no interest at all in whether it will pull through in the end or not. There are far better trading opportunities in more stable, and more secure markets, operating on exchanges that aren't just going to vanish with all their customers money.