Those who argue that there would have not been a rally to begin with (i.e. without leveraging) are kidding themselves.
Here's my stance on the leverage debate.
Momentum is the biggest part of any price movement. You can see this very clearly in the charts... the big trends last for months. If we had not had leverage, we would have had a slower rise (and perhaps even from a lower bottom), but the price would have kept rising instead of running into a brick wall. We definitely could have gotten past $7 without Bitcoinica.
sorry friend but you are assuming things that never happened. we have no idea what would happen if bitcoinica wasnt here. (btc price fluctuated wildly before bitcoinica.)
Coming into bitcoin with any sort of dependence on its fiat value is foolhardy, and can only be counter-balanced by directing all aggression toward diligently learning the market, even if you never speculated on anything, and even if you'd rather not speculate. This is a hard fact I have learned through experience.
tldr -- nut up or shut up.
theres not much to learn when all I did was decide not to wait for 6 confirmations, and went to sleep instead. thats like saying I deserve to lose money if Im not holding it tightly with both hands, 24/7.
now fuck off trying to talk to me like if I dont know how this works. this was just simply another fuckup making people not want to do business in btc. in all likelihood, this is causing most people to not want to use btc.
the first rule of eve is dont fly what you can afford to lose, yes that is eve-online rule and if that apply on a game also apply on real life
also grow up, many of us the speculators did lose money got mad and so on but i dint see ppl insulting other ppl just because they made a bad decision
do you mean my decision of wanting to sleep, 3am in the morning, instead of waiting for 6 confirmations, was a bad decision?
also, I dont care if other speculators dont go around insulting others for their losses. Im going to tell you assholes that you are assholes anyway.
at least point me to some automated software that works well with the APIs of some exchanges. as I said before I dont know how to program. maybe some kind of integration of API commands, as an addon to the bitcoin client, would be a good way to help people avoiding situations like these.
you would not be raging if you just made a limit order and sent your bitcoin. It would automatically sell when your account received BTC.
intersango doesnt let me place orders without coins in my acct. gox does, but you know, Ive been goxed and wont give in and use the damn exchange again. no way that french fuck in japan will make any money off me again.
Well, would you be just as angry if the price had jumped to $6.50?
Maybe there is a way to do it quicker for people in your situation.
no, I would have thought "why are these idiots giving me more money than I ask for?" because it feels completely unreal that the price is moving so rapidly. how the fuck is the btc economy going to work if I cant survive without having a bot doing all the moves for me?
as I said before, I dont want to profit that way, because when I do, one way or another the extra cash is coming from some other poor fellow.
at least point me to some automated software that works well with the APIs of some exchanges. as I said before I dont know how to program. maybe some kind of integration of API commands, as an addon to the bitcoin client, would be a good way to help people avoiding situations like these.
Agreed, it would be useful. There is probably a simple bot like this available somewhere. Also, like someone else said, you realize that selling 100 bitcoins is going to move the market right? Doing it right now would drop the value 10 cents.
that is, if I sell into the bids. I know very well not to do this, and place asks close to the bids, and wait (like a civilized person).
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