"No Reserve" explanation - page 7. | Bitcointalksearch.org

notme

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Quote from: chunglam on December 28, 2011, 11:24:44 PM

Quote from: zhoutong on December 28, 2011, 11:12:51 PM

Quote from: chunglam on December 28, 2011, 11:09:39 PM

Hi Zhoutong, are you sending the signal to "The Manipulator"?

I'm not, but everyone knows this.

So I assume that the Manipulator already knows and I just want to let traders know how serious this can be.

So, what is your recommendation for normal trader like me?

That depends entirely on your timeframe. Short term, we may see a big dip. Longer term, there are obviously lots of buyers -> price rise, just make sure you don't use too much leverage or you will get liquidated in the squeeze if it occurs. Personally, I have liquidated my long position for a nice profit and will reenter if it dips. If it doesn't most of my margin balance will be moving to MtGox for my bot to play with. Except for the recent profit (which I assume can't be converted) it's all BTC, so technically I'm still long, just no Bitcoinica position.

cypherdoc

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Quote from: Zotia on December 28, 2011, 10:39:41 PM

Quote from: zhoutong on December 28, 2011, 10:23:49 PM

Quote from: cypherdoc on December 28, 2011, 10:21:53 PM

LOL! please think of a fix that will make everyone money.

Well, the best way for you to make money right now is to take advantage of the imminent long squeeze.

Why do you believe there will be a long squeeze?

IMO, it's the other way around:
-Because you can't buy BTC on Bitcoinica, anyone who wishes to buy BTC will need to buy them on on MtGox, leading to higher prices.
-Because you can't buy BTC on Bitcoinica, any bull with BTC will be LESS likely to sell because they can't re-buy them if they sell too low.

I don't see your logic. If something is in short supply, its price goes up, not down.

Am I missing something?

no, you are not. this prolonged rise in the market has placed Zhoutong in an untenable position IMO. when you go long, he has to go short. IMO he is caught in a massive short squeeze and is desperate to get you guys to either sell or go short to provide btc liquidity so he can cover his losing positions. i think the dam has broken and his advice smacks of manipulation in the name of self preservation.

when are you guys going to learn? problem after problem after problem keeps cropping up. Bitcoinica is doomed.

chunglam

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Quote from: zhoutong on December 28, 2011, 11:12:51 PM

Quote from: chunglam on December 28, 2011, 11:09:39 PM

Hi Zhoutong, are you sending the signal to "The Manipulator"?

I'm not, but everyone knows this.

So I assume that the Manipulator already knows and I just want to let traders know how serious this can be.

So, what is your recommendation for normal trader like me?

notme

legendary

Activity: 1904

Merit: 1002

Quote from: Zotia on December 28, 2011, 10:58:47 PM

They can always do this. How is this different from normal?

It's different because there are more longs... therefore the squeeze will be more severe. I'm not saying someone will be willing to risk it since this is a very bullish indication, but if you could drop the price low enough (below 3.5 should start the ball rolling) you could buy a lot of coins at a discount. However, there are so many buy orders on MtGox, this would take roughly $300k... or $30k on 1:10 margin. But to trade on margin you have to use Bitcoinica, and much of your sale would be filled by pending Bitcoinica buys before it hits MtGox. Probably not going to happen, but Zhoutong probably wishes it will. Otherwise, he may have a liquidity problem for a while as people will be unwilling to take smaller profits out of the fear of not being able to reenter.

zhoutong

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Quote from: chunglam on December 28, 2011, 11:09:39 PM

Hi Zhoutong, are you sending the signal to "The Manipulator"?

I'm not, but everyone knows this.

So I assume that the Manipulator already knows and I just want to let traders know how serious this can be.

chunglam

donator

Activity: 229

Merit: 106

Hi Zhoutong, are you sending the signal to "The Manipulator"?

zhoutong

vip

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Quote from: Zotia on December 28, 2011, 10:58:47 PM

Quote from: zhoutong on December 28, 2011, 10:48:21 PM

Quote from: Zotia on December 28, 2011, 10:39:41 PM

Quote from: zhoutong on December 28, 2011, 10:23:49 PM

Quote from: cypherdoc on December 28, 2011, 10:21:53 PM

LOL! please think of a fix that will make everyone money.

Well, the best way for you to make money right now is to take advantage of the imminent long squeeze.

Why do you believe there will be a long squeeze?

IMO, it's the other way around:
-Because you can't buy BTC on Bitcoinica, anyone who wishes to buy BTC will need to buy them on on MtGox, leading to higher prices.
-Because you can't buy BTC on Bitcoinica, any bull with BTC will be LESS likely to sell because they can't re-buy them if they sell too low.

I don't see your logic. If something is in short supply, its price goes up, not down.

Am I missing something?

There are a lot of long positions on Bitcoinica, so anyone with the power to push the price down will cause a lot of forced liquidations, and Bitcoinica will sell at very low prices.

Basically it's you sell X BTC, Bitcoinica will then sell X BTC to you at bottom price.

They can always do this. How is this different from normal?

Now the opportunity is huge. And it's confirmed.

In normal situations, there are not that many long positions.

Zotia

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TokenUnion-Get Rewarded for Holding Crypto

Quote from: zhoutong on December 28, 2011, 10:48:21 PM

Quote from: Zotia on December 28, 2011, 10:39:41 PM

Quote from: zhoutong on December 28, 2011, 10:23:49 PM

Quote from: cypherdoc on December 28, 2011, 10:21:53 PM

LOL! please think of a fix that will make everyone money.

Well, the best way for you to make money right now is to take advantage of the imminent long squeeze.

Why do you believe there will be a long squeeze?

IMO, it's the other way around:
-Because you can't buy BTC on Bitcoinica, anyone who wishes to buy BTC will need to buy them on on MtGox, leading to higher prices.
-Because you can't buy BTC on Bitcoinica, any bull with BTC will be LESS likely to sell because they can't re-buy them if they sell too low.

I don't see your logic. If something is in short supply, its price goes up, not down.

Am I missing something?

There are a lot of long positions on Bitcoinica, so anyone with the power to push the price down will cause a lot of forced liquidations, and Bitcoinica will sell at very low prices.

Basically it's you sell X BTC, Bitcoinica will then sell X BTC to you at bottom price.

They can always do this. How is this different from normal?

zhoutong

vip

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Quote from: Zotia on December 28, 2011, 10:39:41 PM

Quote from: zhoutong on December 28, 2011, 10:23:49 PM

Quote from: cypherdoc on December 28, 2011, 10:21:53 PM

LOL! please think of a fix that will make everyone money.

Well, the best way for you to make money right now is to take advantage of the imminent long squeeze.

Why do you believe there will be a long squeeze?

IMO, it's the other way around:
-Because you can't buy BTC on Bitcoinica, anyone who wishes to buy BTC will need to buy them on on MtGox, leading to higher prices.
-Because you can't buy BTC on Bitcoinica, any bull with BTC will be LESS likely to sell because they can't re-buy them if they sell too low.

I don't see your logic. If something is in short supply, its price goes up, not down.

Am I missing something?

There are a lot of long positions on Bitcoinica, so anyone with the power to push the price down will cause a lot of forced liquidations, and Bitcoinica will sell at very low prices.

Basically it's you sell X BTC, Bitcoinica will then sell X BTC to you at bottom price.

chunglam

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If you have enough fund, you can change or manipulate market. Wink

Zotia

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TokenUnion-Get Rewarded for Holding Crypto

Quote from: zhoutong on December 28, 2011, 10:23:49 PM

Quote from: cypherdoc on December 28, 2011, 10:21:53 PM

LOL! please think of a fix that will make everyone money.

Well, the best way for you to make money right now is to take advantage of the imminent long squeeze.

Why do you believe there will be a long squeeze?

IMO, it's the other way around:
-Because you can't buy BTC on Bitcoinica, anyone who wishes to buy BTC will need to buy them on on MtGox, leading to higher prices.
-Because you can't buy BTC on Bitcoinica, any bull with BTC will be LESS likely to sell because they can't re-buy them if they sell too low.

I don't see your logic. If something is in short supply, its price goes up, not down.

Am I missing something?

zhoutong

vip

Activity: 490

Merit: 502

Quote from: cypherdoc on December 28, 2011, 10:21:53 PM

LOL! please think of a fix that will make everyone money.

Well, the best way for you to make money right now is to take advantage of the imminent long squeeze.

cypherdoc

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LOL! please think of a fix that will make everyone money.

zhoutong

vip

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Merit: 502

Quote from: chunglam on December 28, 2011, 10:08:17 PM

Hi Zhoutong, I accidentally input a limit sell order by enter "4,3" instead of "4.3" to the price field but the system interpret it as "4.0" and executed immediately. I know it is my fault but there should be a better way to handle this kind of situation.

Thank you very much for your feedback. I will think about a fix soon.

chunglam

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Hi Zhoutong, I accidentally input a limit sell order by enter "4,3" instead of "4.3" to the price field but the system interpret it as "4.0" and executed immediately. I know it is my fault but there should be a better way to handle this kind of situation.

zhoutong

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Quote from: Mushoz on December 28, 2011, 09:50:54 PM

Quote from: zhoutong on December 28, 2011, 09:44:06 PM

Quote from: ineededausername on December 28, 2011, 09:40:26 PM

ohhhhhhhhhhhhhhhhhhhhhhhh shit Shocked

edit: Do you have a plan for what happens if the market keeps going up like I think it will?

There are limit orders from the positions of long people. So there will be more selling soon.

Also, forced liquidations will still happen (but never at insane prices), but we will eat all the risk. :-(

I understand that you will take all the risk of forced liquidations, but what about people that are currently short who would like to liquidate their position _before_ they get forced liquidated?

Then we have to eat more risk if we allow liquidations of short positions other than forced liquidations.

ineededausername

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bitcoin hundred-aire

Quote from: Mushoz on December 28, 2011, 09:50:54 PM

Quote from: zhoutong on December 28, 2011, 09:44:06 PM

Quote from: ineededausername on December 28, 2011, 09:40:26 PM

ohhhhhhhhhhhhhhhhhhhhhhhh shit Shocked

edit: Do you have a plan for what happens if the market keeps going up like I think it will?

There are limit orders from the positions of long people. So there will be more selling soon.

Also, forced liquidations will still happen (but never at insane prices), but we will eat all the risk. :-(

I understand that you will take all the risk of forced liquidations, but what about people that are currently short who would like to liquidate their position _before_ they get forced liquidated?

Well, they are screwed Sad

Mushoz

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Bitbuy

Quote from: zhoutong on December 28, 2011, 09:44:06 PM

Quote from: ineededausername on December 28, 2011, 09:40:26 PM

ohhhhhhhhhhhhhhhhhhhhhhhh shit Shocked

edit: Do you have a plan for what happens if the market keeps going up like I think it will?

There are limit orders from the positions of long people. So there will be more selling soon.

Also, forced liquidations will still happen (but never at insane prices), but we will eat all the risk. :-(

I understand that you will take all the risk of forced liquidations, but what about people that are currently short who would like to liquidate their position _before_ they get forced liquidated?

zhoutong

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Quote from: chunglam on December 28, 2011, 09:46:38 PM

My sell order also got "No Reserve", why?

This was a code error (the system didn't remove the redflag when needed). I have fixed this already.

chunglam

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My sell order also got "No Reserve", why?

Topic: "No Reserve" explanation - page 7. (Read 8964 times)