Overleveraged buffoon creates biggest Mexican standoff in Altcoin history - page 4.

r0ach

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Quote from: Come-from-Beyond on September 27, 2015, 03:40:25 PM

If you are an experienced trader then you know that if you see someone saying that the price will go up, then he may want to sell, if he is saying that the price will go down, then he may want to buy...

Except I already know where people's positions are so I don't have to guess.

Come-from-Beyond

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Quote from: r0ach on September 27, 2015, 03:37:25 PM

There's a group of 8 or so Vietnamese in a chat room with 500 btc float and a couple bots that are trying to increase the price right now, as well as several long term holders of BTS separately doing their own thing, and a few other parties on top of that. There's many different groups working against him already and I'm 90% sure it will go over 3500 by Oct 13 and blow this short wide open, forcing it to go even higher when he has to buy off the wall.

If you are an experienced trader then you know that if you see someone saying that the price will go up, then he may want to sell, if he is saying that the price will go down, then he may want to buy...

r0ach

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Merit: 1000

Quote from: Come-from-Beyond on September 27, 2015, 03:32:38 PM

Quote from: r0ach on September 27, 2015, 03:24:32 PM

Since BTS 2.0 is about to release in 15 days, the price will likely continue to increase towards that date...

Unless the market has already reacted to the news.

There's a group of 8 or so Vietnamese in a chat room with 500 btc float and a couple bots that are trying to increase the price right now, as well as several long term holders of BTS separately doing their own thing, and a few other parties on top of that. There's many different groups working against him already and I'm 90% sure it will go over 3500 by Oct 13 and blow this short wide open, forcing it to go even higher when he has to buy off the wall.

HalFinneysBrain

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Merit: 100

Its indeed large but certainly not the largest.

Someone got a 250 btc margin call in ETH a couple weeks back.

Come-from-Beyond

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Quote from: r0ach on September 27, 2015, 03:24:32 PM

Since BTS 2.0 is about to release in 15 days, the price will likely continue to increase towards that date...

Unless the market has already reacted to the news.

r0ach

legendary

Activity: 1260

Merit: 1000

Someone asked that I make a new topic on this subject, so here it is. The back story on this event is here from a post yesterday:

Quote from: r0ach on September 26, 2015, 06:44:51 PM

I think you're about to see the largest margin call in Poloniex history.

Some guy named Cagara opened a 100btc short on Bitshares around 0.00002700 sometime around Sept 23rd. He thought the price was going to go down to 0.00002200 but it didn't, the price went to 2450 or so then recovered to 2700 again while his short is still open.

Now this guy has to buy 100 BTC worth straight off the sell wall or wait for the price to go higher and get margin called. Depending if he manually covers his short or waits to get margin called, the price is immediately going to go somewhere between 2900-3100 relatively soon.

There's also nobody selling for him to cover his short either because a double sell off wave just happened. He keeps trying to dump into buy support to stop the rise just digging himself deeper in the hole:

Now the progression of the story from yesterday is, the price has increased even higher to 2780ish now and this guy has decided instead of covering his failed short and buying 100btc worth of coins straight off the wall, he has decided to double down and place 11 btc sell walls spaced out on the sell wall to try and prevent it from going higher:

Since BTS 2.0 is about to release in 15 days, the price will likely continue to increase towards that date and this guy will be forced to cover an even bigger short, buying a huge number of coins straight off the sell wall that will probably immediately move the market 400-500 satoshi upwards:

Why am I posting this? Because the guy is a huge ass and types things like "you're all idiots investing in this stuff, I'm only here to short to make money". Now that his position is revealed, I can't wait for this guy to lose money and have others profit from the information at the same time.

Topic: Overleveraged buffoon creates biggest Mexican standoff in Altcoin history - page 4. (Read 5282 times)