Topic: Speculators causing immense price swings: go fuck yourselves (Read 5334 times)

I was trolling previously and expected to get banned
I still appreciate the serious replies.

Bitcoinica has unfortunately high spreads, and doing what you mentioned would make me lose around 5%. although it is a viable way of doing it.

however, it still doesnt solve the issue that I had to wait for 6 confirmations. I just happened to make the decision of sleeping rather than waiting for new blocks.

what I was really pissed about is how people instantly behave like a flock, in regards to btc. people are willing to sell their coins at huge losses, which is completely unreasonable. it just gives me this vibe of very inexperienced, emotional and stressed out people crapping their pants as fast as a large trade happens. and then as previously mentioned, this triggers behavior from bots (and possibly a chain reaction of liquidations in bitcoinica)

although I kept the btc, and it has gone back up to 4.8. things do seem brighter.

anyway, this thread should get binned or modified, I certainly didnt behave nice here

If this guy new "how it works" he would have shorted the amount of bitcoins he held while he slept.  That would have kept his BTC/USD exchange rate that he wanted at that moment fixed.

1.  He has 100 BTC valued at $550.
2.  He sells 100 BTC on Bitconica for $550
3.  The value of bitcoins drops to $4.50
4.  He wakes up and sees his Mtgox value of bitcoins is now $450
5.  He then goes on Bitcoinica and sees he has a profit of $100.
6.  He buys back the bitcoins on Bitcoinica and moves his $100 to Mtgox
7.  Now he has 100 Bitcoins worth $450 and $100.

$450 + $100 = $550

He would have lost no money if he knew what he was doing.  If an Iowan farmer knows how to hedge his corn then so should bitcoin accepting merchants with the ease of use of Bitcoinica.

Take a look at the U.S. Debt in comparison.

Really, go look at it, and I can guarantee you will feel better, and then abruptly worse.

Wow, a US$100 loss  it will take years to put his life back together.

lol .... have to laugh when unintelligent buffoons like this lose money and go off the deep end on a rant ... and all over $100 LOL

I lol'd 

Perhaps you should change your name to guywhogotzhoutonged.

Speculators who made money off you, are laughing at you all the way to the bank, I doubt there is even a single one who didn't find this rant amusing and got offended instead.

The one thing bitcoin is pretty useless for is as a store of value.  The US dollar may have lost 90% of its value in the last 50 years, but bitcoin is capable of losing 90% of its value within 6 months (June to November 2011).  The commodity suffers wild swings upwards and down.  Forum participants have watched as its value swung up to 50% within one day.  It was crazy.  The swings hurt bitcoin and hamper its adoption as anything more than a means to achieve a transaction (get rid of bitcoins as soon as you acquire them).


That's not very nice.

Same here. You too can be an early adopter now

Don't feel So bad chum, it'll come back around.

Considering I'm long term investing, it's just another opportunity for me to buy more...

That said, and it's been said before, don't invest what you can't lose....

Man. Man.

Listen.

Nobody on this forum has the power - on their own - to swing BTC 50 cents. Or at least if they do, they aren't telling; there's someone with deep pockets who seems to enjoy pushing the price around, but we're usually just as annoyed by that guy as you probably are.

What's really happening is this: people think the price is going down and don't want to be left holding the bag. If someone you trust told you two days ago that bitcoins would be worth 10% less in a couple days, would you honestly have kept them in your wallet? Or would you have sold them while you still could?

It's the same principle. People are just trying to protect their money. And right now, there's so few people in the market that any shift, any movement of the crowd, ends up having a big footprint, instead of being the tenths-of-a-percent you see in "mature" currency fluctuations.

If you want to blame something for this volatility, it's that we're still so early in the adoption of it as a currency. It's not big enough or used enough for the price to stick. Until that gets solved, there's nothing that will keep the USD value of our coins consistent.

(In the meantime, if you want to make sure your coins don't decline in value, that's actually one of the non-speculative uses of Bitcoinica; taking out a "short" position equal to some percentage of the BTC you're holding means that any drop in value will be balanced out by the short. Might be worthwhile if you're worried about this kind of thing happening to you again.)

wise master, I am subordinate to you and will probably never reach the level of wisdom you have acquired.

now go fuck yourself too, random ass wise guy

I'd be honored as people mostly only learn through their mistakes the hard way & so evolution would be served, though it needn't be this way if you took full responsibility for every single aspect of your reality instead of seeming to serially find some boggy man to blame for your screw ups, then compounded by rage at the system - anyway wishing you all the best as it is all for the best 7 always was

ffs - Jessie alarm bear just kicked in @ $4.50, bloody ironic gods of Fortuna ftfw

You should of hedged.

Ill promise to blame you for whatever reason I happen to lose money again.

how about after this cathartic learning experience you also change your martyr forum ID: guywhogotgoxed
to: guywhogotrapedforeternitybyspeculators
victim syndrome or what
PS - don't lock ur $ up, especially in volatile markets, if ur going to need them at short notice - lesson learned, move on
& as previous poster, I'm down atm probably about 100 times what you are & I blame no one & it's what I risk managed
for better or worse - just happens to be seems worse atm but that's par for the course, any cash that I may need access to
immediately doesn't get to go here