Topic: So who sold below $100 during the SR "crash"? - page 2. (Read 4502 times)
Only if you think that the posts on speculation forums matter. ^^
I panic sold at $98 in bitstamp, I watched the price drop till 85 I didn't want to buy back there, I thought the price will drop even more, I went outside to smoke a cigaret when I went back price was rising around 96-97 $, I didn't want to buy, after 10 min it went up to 120$ and dropped back to 105$ and I still didn't buy, I thought maybe this is just the start, the price start climbing back, just then I knew I fucked up, I waited a couple of days to see price just going up, so I decided to buy LTC instead. I went all in LTC.
well even Litecoin isn't doing good, long story short, I lost a total of 20 BTC......
well even Litecoin isn't doing good, long story short, I lost a total of 20 BTC......
I'm sorry for your loss.
Don't think Litecoin was a good decision though. Risk/reward much lower than bitcoin.
You still try to escape/makeup the loss, instead of accepting it, hence another poor decision.
Also, all-in can hardly be justified unless the market is at extremes, which clearly is not the case for Litecoin valuation.
Indeed great you recognize your mistake. Many don't do that so you are ahead.
Next step is not to take investment decisions with your emotions but instead ask questions 'what if it goes up from here, am I good?' 'what if it goes down from here, am I good too?', 'what are the chances that it goes up, what are the chances that it goes down?' etc. Try to listen to all your parts, the fearful and greedy, do not let one part of you take you over but hear them out, negotiate with them and take a decision that all your parts agree with and you will make much wiser decisions.
This speculation board is full of hypers and spammers that try to drag you into the market mood, often with 'hero member' status, watch out for them.
I do not listen to trolls and speculators, I usually try to analyze data, fellow the market and base my buy/sell decisions on predicted news or analyzes, though the Silk road news was something different, for a moment I didn't understand what was going on, I tired to read the news and decide what to do, but price kept dropping down before I got my shit together, this is why I panic sold out.... sadly after I sold all my BTC, I was sitting and reading what was the SR news all about, so I decided to buy back but at lower price to make some profit out of the situation..... and you know the rest of the story.
I witnessed few crashes, and we usually took some time to recover, but the last crash was unpredicted, zthe price recovered so fast, that it amazed me.
my decision about Litecoin was taking a great risk that might bring a great reward, the thing about LTC is that all traders on BTC-e are just jumping from one to another coin, as soon as BTC start rising they dump LTC and buy BTC, as soon as LTC start rising the dump BTC and buy LTC and all over again.
in all different situation i have been at, I found that buying BTC and holding it no matter what is the best thing you can do.
sr. member
Activity: 294
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This bull will try to shake you off. Hold tight!
I panic sold at $98 in bitstamp, I watched the price drop till 85 I didn't want to buy back there, I thought the price will drop even more, I went outside to smoke a cigaret when I went back price was rising around 96-97 $, I didn't want to buy, after 10 min it went up to 120$ and dropped back to 105$ and I still didn't buy, I thought maybe this is just the start, the price start climbing back, just then I knew I fucked up, I waited a couple of days to see price just going up, so I decided to buy LTC instead. I went all in LTC.
well even Litecoin isn't doing good, long story short, I lost a total of 20 BTC......
well even Litecoin isn't doing good, long story short, I lost a total of 20 BTC......
I'm sorry for your loss.
Don't think Litecoin was a good decision though. Risk/reward much lower than bitcoin.
I get the impression you still try to escape/makeup the loss, instead of accepting it, hence another poor decision.
Also, I think all-in can almost never be justified unless the market is at extremes, which clearly is not the case for Litecoin valuation.
Indeed great you recognize your mistake. Many don't do that so you are ahead.
Next step is not to take investment decisions with your emotions but instead ask questions 'what if it goes up from here, am I good?' 'what if it goes down from here, am I good too?', 'what are the chances that it goes up, what are the chances that it goes down?' etc. Try to listen to all your parts, the fearful and greedy, do not let one part of you take you over but hear them out, negotiate with them and take a decision that all your parts agree with and you will make much wiser decisions.
This speculation board is full of hypers and spammers that try to drag you into the market mood, often with 'hero member' status, watch out for them.
I panic sold at $98 in bitstamp, I watched the price drop till 85 I didn't want to buy back there, I thought the price will drop even more, I went outside to smoke a cigaret when I went back price was rising around 96-97 $, I didn't want to buy, after 10 min it went up to 120$ and dropped back to 105$ and I still didn't buy, I thought maybe this is just the start, the price start climbing back, just then I knew I fucked up, I waited a couple of days to see price just going up, so I decided to buy LTC instead. I went all in LTC.
well even Litecoin isn't doing good, long story short, I lost a total of 20 BTC......
well even Litecoin isn't doing good, long story short, I lost a total of 20 BTC......
Ouch.. that must have hurt quite a bit. But this is bitcoin, if you're able to learn from this experience you will get a chance to make up your losses and more. Just stay away from the altcoins unless you know what you're doing.
I panic sold at $98 in bitstamp, I watched the price drop till 85 I didn't want to buy back there, I thought the price will drop even more, I went outside to smoke a cigaret when I went back price was rising around 96-97 $, I didn't want to buy, after 10 min it went up to 120$ and dropped back to 105$ and I still didn't buy, I thought maybe this is just the start, the price start climbing back, just then I knew I fucked up, I waited a couple of days to see price just going up, so I decided to buy LTC instead. I went all in LTC.
well even Litecoin isn't doing good, long story short, I lost a total of 20 BTC......
well even Litecoin isn't doing good, long story short, I lost a total of 20 BTC......
Props for having courage to admit to failed trades.
I panic sold at $98 in bitstamp, I watched the price drop till 85 I didn't want to buy back there, I thought the price will drop even more, I went outside to smoke a cigaret when I went back price was rising around 96-97 $, I didn't want to buy, after 10 min it went up to 120$ and dropped back to 105$ and I still didn't buy, I thought maybe this is just the start, the price start climbing back, just then I knew I fucked up, I waited a couple of days to see price just going up, so I decided to buy LTC instead. I went all in LTC.
well even Litecoin isn't doing good, long story short, I lost a total of 20 BTC......
well even Litecoin isn't doing good, long story short, I lost a total of 20 BTC......
Congrats to those who had their bids filled. I think that was the last drop below $100.
Time will tell.
Time will tell.
Yeah good point.
Say goodbye.
Congrats to those who had their bids filled. I think that was the last drop below $100.
Time will tell.
Maybe not a bear market to below $100, but after the SR incident I am convinced that anything is possible during a flashcrash with the right mix of panic and idiot market dumpers, especially with these thin books. After all there is only 20K btc bids on the entire book at Bitstamp (the market leader). Just 8K would take us to 100 right now. Gox used to have those kinds of dumps all the time like they were nothing. Gox had 20-50k dumps even.Time will tell.
Even during the crash, the ask volume did not increase that much, this indicated that bitcoin has been widely distributed since last crash and now not so many people have large amount of coin or have the willing to sell
Congrats to those who had their bids filled. I think that was the last drop below $100.
Time will tell.
Maybe not a bear market to below $100, but after the SR incident I am convinced that anything is possible during a flashcrash with the right mix of panic and idiot market dumpers, especially with these thin books. After all there is only 20K btc bids on the entire book at Bitstamp (the market leader). Just 8K would take us to 100 right now. Gox used to have those kinds of dumps all the time like they were nothing. Gox had 20-50k dumps even. Time will tell.
I bought less than one BTC at about $100. Nothing exciting. No money to spend. I wish I had more to invest but that is the way it goes.
Congrats to those who had their bids filled. I think that was the last drop below $100.
Time will tell.
Time will tell.
I held all below 100 and below 80 because i dint noticed about the crash until like 6 hours after when the price was back to 105, so i dint make any change in my btc balance. 
You dont think about shorting btc when you see a so fast recovery
You dont think about shorting btc when you see a so fast recovery
i unfortunatly didn't get to buy while it was low i was at work and when i got home it had already recovered
i was at work and when i got home it had already recovered Same here, I didn't have money at exchange at that moment, and when my deposit finally arrived, it all recovered
i unfortunatly didn't get to buy while it was low i was at work and when i got home it had already recovered
Mobile Phone dude! i was at work and when i got home it had already recovered LOL I know its a bit late....tsk tsk tsk
But who did?...
Now way, i buy coins from my last job payment.But who did?...
Made a 1000 euro bucks in 10 days!
Now we still need a rise in price for litecoins!
I think only litecoin traders care about midas.
Well, most of us have known for a while that all big exchanges suck in one way or another... Currently BitStamp just sucks least because their money transfers essentially work well which on Gox has reached a high level of notoriety.
Anyway, interesting to read about these issues... I seem to remember seeing something like the mixed up trades under high load before, but never experienced any problems from it myself.
Gox' trading engine certainly has the reputation of being slow (stamp to my personal impression just slightly less), but at least their trade execution seemed to be ok.
Let's see what happens when Gox gets their new trade engine... well I suppose nobody really cares as long as they don't solve their withdrawal issues...
Anyway, interesting to read about these issues... I seem to remember seeing something like the mixed up trades under high load before, but never experienced any problems from it myself.
Gox' trading engine certainly has the reputation of being slow (stamp to my personal impression just slightly less), but at least their trade execution seemed to be ok.
Let's see what happens when Gox gets their new trade engine... well I suppose nobody really cares as long as they don't solve their withdrawal issues...
I think it's because bitstamp's order execution is not atomic, unlike gox and btce. On gox and btce, orders are instantly executed against any available opposing orders BEFORE the remainder appears on the book. However, notice on bitstamp how you can see crossed orders on the book before they execute - you are seeing the trader's original order on the book first and THEN it gets executed later by some algorithm (fifo?). Also the execution is arbitrarily marked as a buy or a sell which is why you see red/green mixed up on services. It is not atomic. So during the crash even though you saw a 90 ask, it wasn't really available because there was a huge line of people ahead of you waiting to execute against it. And I could also see executions of 95 and 105 being mixed together in the tape.
For the worlds new btc market leader, their trading engine sure needs a lot of work. Also the UI could be improved and made more robust for traders.
For the worlds new btc market leader, their trading engine sure needs a lot of work. Also the UI could be improved and made more robust for traders.
+1
If volume continues to pick up, everyone cheering for stamp will switch to complaining.
I think it's because bitstamp's order execution is not atomic, unlike gox and btce. On gox and btce, orders are instantly executed against any available opposing orders BEFORE the remainder appears on the book. However, notice on bitstamp how you can see crossed orders on the book before they execute - you are seeing the trader's original order on the book first and THEN it gets executed later by some algorithm (fifo?). Also the execution is arbitrarily marked as a buy or a sell which is why you see red/green mixed up on services. It is not atomic. So during the crash even though you saw a 90 ask, it wasn't really available because there was a huge line of people ahead of you waiting to execute against it. And I could also see executions of 95 and 105 being mixed together in the tape.
For the worlds new btc market leader, their trading engine sure needs a lot of work. Also the UI could be improved and made more robust for traders.
For the worlds new btc market leader, their trading engine sure needs a lot of work. Also the UI could be improved and made more robust for traders.
I stopped using Bitstamp for reasons I think are related to this. During flash crashes I had limit orders on the bid side set on multiple occasions -- the exchange rate declined right past by bids, recovered, and my bids were never filled. So aggravating. Never, ever using Bitstamp again.
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