Shorts on Bitfinex at a all time high! - page 7.

fonzie

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Quote from: darlidada on April 19, 2015, 03:35:37 PM

Quote from: fonzie on April 19, 2015, 03:32:58 PM

They would close into the 100k+ BTC that have been opened as longs.and need to close at some point.. Roll Eyes

However, sooner or later Bitfinex will implode and bulls and bears will get burned at the same time.

how will it implode?

Due to the fact that longs can be opened with BTC as collateral. The lower BTC/USD price gets the more dangerous it becomes. I explained the situation a few weeks ago, I'm too lazy to write it again. My guess was that@ around 80-100$ the lights will go out for Bitfinex, as probably most of those longs have been opened with BTC as coll.

damiano

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Quote from: hyphymikey on April 19, 2015, 03:27:28 PM

To close out those shorts coins have to be bought back. They have around 20K coins on finex for sell. It was a joke about million dollar coins, but just wanted to point out there are more shorts than can be closed. Or am I missing something?

If I borrow something and sell it, and then I have to buy back in able to return what I sold but there isn't enough out there no matter the price, what do I do?

Also, I don't need bitcoin to be above 300. I want as many coins as possible, shorters are helping me accumulate. But seeing the order books I would not short myself.

The same can easily be stated for those longs being margin called, not enough bids. price would also implode

darlidada

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Quote from: fonzie on April 19, 2015, 03:32:58 PM

They would close into the 100k+ BTC that have been opened as longs.and need to close at some point.. Roll Eyes

However, sooner or later Bitfinex will implode and bulls and bears will get burned at the same time.

how will it implode?

hyphymikey

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Quote from: fonzie on April 19, 2015, 03:32:58 PM

They would close into the 100k+ BTC that have been opened as longs... Roll Eyes

However, sooner or later Bitfinex will implode and bulls and bears will get burned at the same time.

You mean they would buy back from the open longs that MIGHT be for sale? Hopefully somebody is closing their long in the price range before you get margin called. If it's cascading you won't even have a chance. Roll Eyes

Not worth the risk if you ask me.

fonzie

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They would close into the 100k+ BTC that have been opened as longs.and need to close at some point.. Roll Eyes

However, sooner or later Bitfinex will implode and bulls and bears will get burned at the same time.

gotmilk_

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Quote from: hyphymikey on April 19, 2015, 03:27:28 PM

To close out those shorts coins have to be bought back. They have around 20K coins on finex for sell. It was a joke about million dollar coins, but just wanted to point out there are more shorts than can be closed. Or am I missing something?

If I borrow something and sell it, then I have to return what I sold but there isn't enough out there no matter the price, what do I do?

I don't need bitcoin to be above 300. I want as many coins as possible, shorters are helping me accumulate. But seeing the order books I would no short myself.

Question is... Are we looking at new MtGox?

hyphymikey

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To close out those shorts coins have to be bought back. They have around 20K coins on finex for sell. It was a joke about million dollar coins, but just wanted to point out there are more shorts than can be closed. Or am I missing something?

If I borrow something and sell it, and then I have to buy back in able to return what I sold but there isn't enough out there no matter the price, what do I do?

Also, I don't need bitcoin to be above 300. I want as many coins as possible, shorters are helping me accumulate. But seeing the order books I would not short myself.

fonzie

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Quote from: Shatoshi on April 19, 2015, 03:18:16 PM

What the hell are you talking about.

Shhht, he smart. You should not disturb him while he is using his bitcoiner brain to find new possibilities on how to get BTC above 300 again.

Shatoshi

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What the hell are you talking about.

hyphymikey

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Over 30K shorts. There isn't enough coins for sale to close those shorts out. If they cascade close we could see million dollar coins!

This makes me realize shorters are not smart.

damiano

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Quote from: Morecoin Freeman on April 19, 2015, 01:38:46 PM

Quote from: damiano on April 19, 2015, 01:00:21 PM

I have new shorts opened at 225 and old ones at 254 both on 20x

I only have 400 open at 225, 700 at 254

Ok, then you might not like what is going to happen in the next couple of hours (price is at $226 per coin as we speak).

Just like on Thursday right? You do know that was a manipulation show correct? Same show was on Wednesday as well.

damiano

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Quote from: molecular on April 19, 2015, 01:48:15 PM

Quote from: damiano on April 19, 2015, 01:00:21 PM

I have new shorts opened at 225 and old ones at 254 both on 20x

I only have 400 open at 225, 700 at 254

20x leverage??

Can I ask what price your lower short (@225) would be liquidated should the price rise?

About 236ish without buying more

Morecoin Freeman

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Quote from: Shatoshi on April 19, 2015, 01:41:44 PM

Why so sure?

molecular

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Quote from: damiano on April 19, 2015, 01:00:21 PM

I have new shorts opened at 225 and old ones at 254 both on 20x

I only have 400 open at 225, 700 at 254

20x leverage??

Can I ask what price your lower short (@225) would be liquidated should the price rise?

Shatoshi

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Why so sure?

Morecoin Freeman

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Quote from: damiano on April 19, 2015, 01:00:21 PM

I have new shorts opened at 225 and old ones at 254 both on 20x

I only have 400 open at 225, 700 at 254

Ok, then you might not like what is going to happen in the next couple of hours (price is at $226 per coin as we speak).

damiano

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Quote from: bitgeek on April 19, 2015, 12:08:28 PM

Quote from: Morecoin Freeman on April 19, 2015, 10:57:17 AM

Shorters will get their ass margin called within 30 days. Grin

I hope not, I'm making money offering BTC for swaps Wink

Quote from: damiano on April 19, 2015, 12:06:53 PM

Quote from: Morecoin Freeman on April 19, 2015, 10:57:17 AM

Shorters will get their ass margin called within 30 days. Grin

Funny saying this as Bulls are on the verge of being called.

Let me guess, you're shorting as we speak.

I have new shorts opened at 225 and old ones at 254 both on 20x

I only have 400 open at 225, 700 at 254

Tzupy

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Some of the shorts might have been just reserved, not actually sold yet.
And compared in $ with the longs, they are a small fraction, might just damped the fall.
I am not shorting yet, waiting for a low risk / high (not highest, obviously) reward entry for my planned short.

Wandererfromthenorth

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Doesn't matter that much if shorts measured in BTC are at ATH if their USD value is only $5-6M (since price dropped 70% or whatever since price ATH) compared to the longs that are at $26M.

molecular

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Quote from: fred930 on April 19, 2015, 12:04:24 PM

Quote from: ElectricMucus on April 19, 2015, 11:18:16 AM

If you want to judge the sediment you guys are using the wrong chart.

https://bfxdata.com/sentiment/longshort

Quote

Total Active Long Swaps vs Short Swaps vs BTCUSD price (shorts expressed in USD equivalent): displays the total sum of all active swaps on bitfinex. the green area is the total sum of USD swaps over time (i.e swaps used for long positions, margin traders use USD swaps in long positions). The 2 red areas represent the total sum of BTC and LTC Swaps (i.e swaps used for short positions, margin traders use BTC / LTC swaps in short positions). To make the values better comparable I represented the sum of BTC and LTC swaps in USD worth. otherwise you would be comparing apples and oranges Wink

This chart from your link suggests to me that the ATH of BTC swaps was around mid January when the big crash happened. Is my interpretation correct?

yes, the previous ath seems to have been on Jan 15th.

BTC swaps reached ~ 27 kBTC and price dropped to $180 ($160?). ~30 hours before price was at $230 and the shorts at 18 kBTC. So while the shorts were being built up, the price dropped. That's in contrast to what is happening now: price is more or less stable while the shorts are building up.

Topic: Shorts on Bitfinex at a all time high! - page 7. (Read 9889 times)