Topic: Lose all your capital fast, with MatTheCat and his TA 101A! - page 19. (Read 85774 times)

It's possible I pre-ordained it

Same old MatTheCat problem that has affected him all his life...

....capable of saying wise and clever things, but his actions generally leave a lot to be desired.


After getting robbed on Kraken, I told practically everyone I know (in the real world), that I think that I was 100% finished with Bitcoin. Since my Kraken account was emptied, and I witnessed how Kraken just told me (and plenty others) to fuck off, with impunity (Who am I gonna call? What am I gonna do? Am I going to fly over to San Francisco and punch Jesse Powell in his soft geeky face?), I realised just how vulnerable my, and everyone else's funds were sitting on ANY crypto currency exchange. Thus my decision was, to pull everything from BTC, and cash out for good.......WISE DECISION!  

Except, for various reasons, and due to some strange twists of coincidence, I never actually got around to doing this. The closest I got was late last week, when I had my BTC limit order up on Finex, only to realise that I couldn't withdraw cos I didn't have my mobile to hand.

I guess some people are just made of LOSE. Even if they (like myself), have been bestowed with an above average level of intelligence, some people (like myself), just seem to have some deep subconscious instinct for sniffing out the LOSE.

A trader? making the same mistakes? it can't be!

You believe bitcoin is going to die, because you are emotionally invested. It has to die, or you will feel an overwhelming sense of failure for missing out when everyone said just buy and hold, and you decided they were wrong.

You were here before the 266 run up and if you'd bought and hodlded you would be up, probably a lot, so much so that it would probably be impossible for you *not* to be at a negative cost basis right now. So you are kicking yourself. When it crashed from 266  everyone kept saying just buy and hold, it still never went much below 100 and so it still seemed too expensive. (I was there I remember feeling that). So you didn't you decided to trade, because they were all wrong, and trading is surely a better way to profit. Then it went over $1k and once again the opportunity was lost. Then it crashed again, at 800 everyone said buy and hold, but now its way too expensive so trading is surely the better option. Then it went down to $500 and all the traders laughed at the buy and holders, because still its far too expensive to buy now and ever make any serious profit just holding. I was still buying, then at 400 I was still buying, and then 300 I'm buying and thinking "seriously why aren't you buying and holding!?!?!". All around I see traders... "no, no, more profit is to be had trading!".

I feel the emotional turmoil of all the buys that are above the current price, and all the sells that were below the current price. Two days ago I discovered that I could finally buy a BTC ETF in my SIPP, so I went ahead and pulled the trigger with a huge chunk of change, and here I am two days later 25% down, d'oh. Its just the same old story. It goes up, it goes down, I can only ever lose what I have invested. I have only invested what I can afford to lose. I couldn't possibly have predicted when any given catastrophe is going to hit the price.

You are suffering from anchoring, you can't see that $1 of bitcoin bought *right now* costs you $1 if it goes to nothing, but could net you several thousand percent gain if the black swan happens. All you can see is the price then, the price now, and how you missed out already. So to soothe your loss you declare bitcoin to have failed. If it has failed, then you were right all along and you can feel better.

To me that seems an even more risky than buy and hold, but what would I know about risk - I am not a trader!

Short selling anything is the worst possible risk profile imho. Limited upside, unlimited downside. Why on earth anyone would short anything is beyond me.

You are mentally *short* on bitcoin, that looks like a really dangerous trade from where I am stood.

I still don't comprehend how after being the #1 person on the entire forum saying Finex is a scam, MatTheMat loads up his entire bank account onto the site and then gets goxed.

such a delicate little flower shouldn't be let outside his gubmint-coddled walled-garden anyway ... but here, have a participant ribbon for showing up to play.

so sad!

At the end of the day...these exchanges can and will do what the fuck they want. They are not regulated by any finanical authority and therefore the only laws which keep them in check, are those pertaining to fraud, and that 'fraud', must first be proven, and for those with back end access to an exchange, I would bet there are a great many ways by which the tracks of in-house nefarious activity can be covered up.

Traders are taking a huge risk depositing money with any BTC exchange, anywhere.

I realised this after my account got emptied on Kraken, who probably got hacked themselves, but to the tune of a much lower amount, and so passed the loss onto their customers by selectively emptying 'unprotected' accounts. Was on holiday when this happened, but my plan always was to withdraw everything I have on BTC exchanges, and keep away for good.....but for various reasons, I never actually got around to doing so.......and now this.

I know that worse things have happened in Bitcoin and Bitcoin has continued to live on, but this is just another large chunk of timber on the funeral pyre. If Finex goes down and takes my USD with it (I had USD on Finex, not BTC, which is the on thing giving me hope right now), then that will probably be the blow that prevents me from ever entrusting money with any trading exchange, ever again. If Finex reopens for business sometime next week, or the week after that, then I shall promptly withdraw all that I have, cash out, and then get the fuck out of BTC once and for all. Even if I was a crack trader (and plenty evidence in here suggesting that I am not), BTC is overall offering no better trade opportunities than many Stocks, including the likes of Amazon. There is absolutley no good reason at all why a trader should have to risk funds on unregulated Bitcoin exchanges.

Bitcoin is not going to take over the world, it is going to die a slow drawn out death, amongst a cesspit of exchange corruption, hacks, and thefts, as the Chinese miners with their massive energy rebates, who cannot make ends meet at $500 (or less) Bitcoin, slowly start to throw in the towel and switch off their farms, bringing the network to grinding halt, with 24 hour transaction confirmations becoming standard.......

Ask MatTheCat if he believes Finex trades on their own exchange or not.  It's an unregulated market.  They can prison rape you however they want, with the exception of random bullshit having to do with handling fiat funds.

Is this true?

"Another obvious reason they've been insolvent for a long time is, a guy I know from one of the trading channels I'm in (Expanse dev - not franko, the other one) tried to make a 100 BTC withdrawal from Finex like five days ago and what happened? Finex canceled his withdrawal, gave him some bogus excuse, put his account on hold, and refused to let him take funds out."

An exchange has no right to hold a person's BTC if he wants to withdraw it. I am wondering what the excuse BitFinex gave is?

if the shorts hes pointing to are indeed bitfinex naked shorting there own exchange, and it shows up on a third party chart site then surely bitfinex will have logs of these trades and who did them

i dont think i believe this guy's story.

and i dont believe anything posted on steem, people have a huge incentive to post anything that they think will get upvoted a lot.

This is what I believe happened on BitFinex:

https://steemit.com/news/@r0achtheunsavory/bitfinex-is-lying-about-the-hack-and-i-can-tell-you-exactly-what-likely-happened

not really, blockchain crypto is inherently nasty for centralised services to deal with, it's part of the design ... people are just fucking stupid and don't listen or observe the history thus far that has demonstrated this every time.

Crypto exchanges suck fucking ASS.

Hey r0ach...

following on from our little discussion about BTC, TA, and the 61.8% retrace trade target:

Your jewish propaganda post was linking buys and sells i did 2 months ago.  I've obviously not gone AFK and done 0 trading since then.

Trying to buy  $10k of btc on Coinbase and their site is down FUCK!!!!!

Downside bearish AB=CD harmonic hit:



If I was still interested in Bitcoin, and handn't had my Kraken account emptied and/or I had access to my Finex account (which may or may not be emptied), I might consider going long BTC for a bit here.



Happy Halving Pump Everyone!

whew, dodged a bullet there.

Good chance that the hacks are, 'shock horror', *real*.

As indicated by my signature. A bunch of Kraken accounts got emptied on the 20th July.

Kraken's response was to blame it's customers for their computers being hacked and generally keep it hushed up as possible.......now a bunch of Finex accounts have been emptied, their response has been to shut down operations, and publically announce that they have been hacked.


Fuck Bitcoin. Only good for paedos, drug addicts, and cyber theives.........and corrupt dodgy as fuck exchanges whose customers are basically playing Russian roulette by keeping funds there.

Agreed, I want to know how I can get a job at Finex, so I too can be privy to Bitcoin insider trading, front running, fake "exchange issues", hacks, and other such shenanigans.