Topic: Overleveraged buffoon creates biggest Mexican standoff in Altcoin history - page 2. (Read 5268 times)

Think he actually bought after he imploded the market, yet he spent too much money imploding the market for any other people to have confidence in buying back in.

I thought the guy who started to short 3 - 4 weeks ago was the buffoon.

Currently he is unhappy as the market is not agreeing to his long position. Such is the fickle nature of altcoin markets.

Who's the buffoon again?

Obviously, he became a multimillionaire fighting the good fight.

What's the latest regarding this episode?

Not such a "buffoon" after all I guess.

lol so your friend Cargara said he closed his shorts now and made a +92 BTC profit.

What's coming out in November?

Here's the reason the price crashed.  I was right there during the whole thing:


If you were trying to time the bottom and buy on the crash, it was very hard to grab coins.  Lowest anyone was really getting in was 2200 and not in any significant quantity.  The biggest buy I saw anyone get in the 2200-2250 range was 10btc, so I highly doubt Cagara cleared his short at all yet.  Now buy wall support is back to like 300 btc again.  Buy to sell ratio was 35:3 at 0.00002200 so you can sleep pretty well on buying back in after the crash.  So yea, the shakeout wasn't caused by me, but I wasn't going to stay in and get raped while it happens.

I don't know, but as soon as I read this thread with all the 'sure thing' posts about how it was going to go up, I couldn't help but think this was exactly what was going to happen.

I think it would be to try to margin call people and pick up more shares at a cheaper price.

I meant the recent dump.  BTS 2.0 is coming out which is supposedly good..  Then someone dumps.  Does not compute.

So maybe someone inside knows something?

I wanna figure out how Bitshares will be able to manage 100k TPS. Realistically, if it does what it says then it's the first Blockchain that can compete with Visa so 12-15 mil marketcap is nothing when you can run entire corporations on the Blockchain.

Maybe someone from the inside knows something.

Looks like someone tried shorting with a fairly large amount of Coin where some 130-140 btc worth were dumped into buy orders all at once.



The thing that is interesting is that if you really wanted to sell that amount of Coins, why would you just dump all at once instead of selling over a longer period?


I guess if considering getting in or not, this may be a good chance to get in at a low level.

Big money only can control the game to an extent, you still have to be able to sell when holding large amounts so the more you have the bigger the gain that needs to be to be able to liquidate it.

Too bad I am not a Korean with $1.175 million dollars USD cash to play around with (in Bitcoin)
..must be nice 

and this is part of the reason why I quit this trading stuff long ago.
big money walks in and controls the game..
which sort of spits in the face of the very concept of Bitcoin in the first place.

AKA: The rich get richer

I was told a while ago there was some big player that was going to buy lots of Bitshares, but he was waiting until after 2.0 release to do so because "that's just the way they do business".  I think I've put together the pieces of the puzzle for who that is:

"The first, a non-profit called Blockchain Labs, was co-founded by Buterin, BitShares co-founder Bo Shen and Feng Xiao, vice chairman and executive director of Wanxiang Holdings, the company's investment arm.

The Blockchain Labs launch is to be followed by the creation of a $50m venture capital fund that will invest broadly in applications for blockchain technology and for which Wanxiang will be the sole limited partner (LP).
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In interview, Chao noted that Wanxiang now has roughly 10 subsidiaries in financial sectors including insurance, banking, futures and asset management, and that the investments provide it with the ability to look for ways to apply blockchain technologies to its business lines."

http://www.coindesk.com/china-wanxiang-blockchain-50-million-fund/


Then we have the Larimers going to China 2 days after BTS 2.0 release to give presentations to these people:

"Shanghai, China - October 15-16  Blockchain Summit

Stan Larimer and several other BitShares personalities*.

Blockchain Labs, China’s first professional blockchain technology institution, has invited selected "geeks, entrepreneurs, academic experts, investors, executives from financial institutions, and regulatory policy makers to join the summit and discuss the business applications and opportunities of blockchain technology in industry, such as Payment, Internet of Things, Securities Trading, Digital Assets Management. We expect that there will be around 200 guests from the financial industry, including banking, payments, securities and commodities, as well as other industries such as IoT and manufacturing."

https://bitsharestalk.org/index.php/topic,18638.0.html

Some more speculation about this guy...

https://bitsharestalk.org/index.php/topic,16894.msg239407.html#msg239407