What were the costs for shorting?Originally Posted by Sanlmar
I'm out at $1083
11/28 Short 10 BTC $1180
12/2 Buy to cover 5 @ $952 +$228 x 5 = $1140
12/5. Buy to cover 5 @ $1083. +$97 x 5. = $485
I'm done with this.
Nice hit. Wait and rinse/repeat.
BTC being pummelled at the moment.
The coin going for a wild ride today it's at $877 atm.
I bought 2.548 ish coins back when they were a little under $100 ($250 total). I sold off the .5 whatever a while back at $1100 (about $600) each and kept the 2.0 coins. Im hoping im not wishing i had dumped the rest.
Bitfinex allows users to borrow coins at an interest rate from their owners. You negotiate the interest rate with the owner. I was lucky enough (LOL) to get 32% from someone - but I did this at the market top with market rising.What were the costs for shorting?
Nice hit. Wait and rinse/repeat.
I spilled all kinds of chips on the floor, it turns out. But I couldn't wallow around long term with that kind of juice. Now, I cannot even fathom what people are charging.
One more day woulda been +$1000 here. FML
Info from another board I am on.
The Exchanges:
cryptsy.com
mtgox.com < Don't use them. Their lag and inability to handle DDoS/Traffic has been disastrous
btc-e.com
vircurex.com
CampBX.com < Best site to deposit DWOLLA funds into
bitfloor.com
coinbase.com < Another good way to get money in the system
Current trading Charts:
http://bitcoincharts.com/markets/
http://bitcoin.clarkmoody.com/
The Wiki:
https://en.bitcoin.it/wiki/Main_Page
How to Mine:
http://cryptojunky.com/blog/2013/03/...tecoin-mining/
Current real world vendors:
https://bitcoin.it/wiki/trade
-----------------------------------
So I've been learning a lot more about BTC's other uses other than currency. The ledgering system in BTC is pretty nifty, you can learn more here:
http://internetganesha.wordpress.com...coin-protocol/
This is where I think the real value in BTC lies once people start creating services using the BTC protocol.
This stuff truly is next level, whether you care about the investing in BTC or not.
----------------------------------
Guys
I would like to discuss seriously what happened with the China ruling yesterday. People all over Reddit are fluffing how it was a good thing, etc.. but I am still getting my head around it.
My quick initial thoughts/questions.
China declared it illegal for financial institutions: banks, and payment processors, etc. to exchange legal tender for Bitcoins, but the general public is free to invest there own funds, however..
Does it mean that goods and services businesses(small businesses) cannot freely exchange their coins for Yuan like they could before? (Either brick and mortar or website owners)
I would really like clarity here.
For great global bitcoin traction to take off (imo), it is necessary for business to accept bitcoin payments all over the world.
If this new ruling discourages that for small business owners in China, it is a step back imo for the small business owner in China.
FOX Business channel just teased something abt btc and Tesla
so a few hours ago gox crashed and started looping this weird 825-870 btc price cycle, and within an hour the market value of btc dropped 15%.
"Birds born in a cage think flying is an illness." - Alejandro Jodorowsky
"America is not so much a nightmare as a non-dream. The American non-dream is precisely a move to wipe the dream out of existence. The dream is a spontaneous happening and therefore dangerous to a control system set up by the non-dreamers." -- William S. Burroughs
per Fox Biz Tesla sold car for bitcoins and now setup to accept btc on purchases.
Blockchain.info @blockchain 25m
@rogerkver will be discussing Bitcoin live on Bloomberg TV today at about 4PM EST! http://www.bloomberg.com/tv/
Retweeted by Bryan Micon
DRK
If you think BTC is the next AAPL because it addresses a market need and has nifty proprietary technology that's one thing. If you're investing for your children's legacy that's great too.
Something like Bitcoin will be in our future. First often doesn't survive. The Altair 8800 PC was a personal computer that was first and landmark in many ways. Altair is just a wiki entry now. Micon actually summed up the need in a great rant in an interview that BetCheckBet posted on page 15.
We aren't curing cancer here. Just trying to nick some quick cash. This is a speculative bubble. Look at the chart. This ain't Warren Buffet's Berkshire Hathaway your investing in.
I was only peripherally aware of the China thing. Http://bitcoin.clarkmoody.com will tell you all you need to know about how important the China decision was to Bitcoin.
First, I sense some of the guys here are savvy daytraders and I find that really interesting but not totally surprising. . It lends itself to a certain personality type that would join a forum like this. Sports betting & poker - working for an edge in marginal situations, probability, ability to grind long sessions in front of the screen. Ferguson & Laak spring to mind when thinking of ex traders who play poker. Just read Cada loved trading.
I am not being condescending with the following suggestion. *I hope I turn someone on to something I truly love doing.
Study candlestick charting and pattern trading.. Pay for a trading group to share ideas real time. I used to pay for "Reality Trader" years ago. Vad Graifer is a trading savant. I have used others and often many at a time all parked on a separate monitor.
Go for the gold and get your Series 7 and become a prop trader - it's like getting staked as a poker player.
I would love to know who is grinding on TradeStation or has thought of it. I got a hunch Sonatine or DirtyB trade.
But back to Bitcoin. Just try to feel the fear people now have at losing their money. Especially the noobs who read about it on chat. Game that against guys like the Winkelvii who want to fuck you and grow their own investment. The swings are really nice here, and if you want to go long the vig to buy and sell a Bitcoin is quite small.
Just ranting cause I covered a day too soon and I'm bored.
Micon's rant from article
"The traditional banking and transaction system never made any sense to me. To this day I try to research, and when you read this you should give it a try yourself, why there is a two- to three day hold every time you deposit a check. Just try to figure that out, why in the world would that have to take that long? Why can’t you not deposit a check on a Sunday at 9:00 PM? Why can that not happen? It never made sense to me, and it gets even crazier when you look at all the fees. Why does a business, located in the US, wanting to accept credit cards, have to pay 2, 3 and sometimes even an outrageous 7% on their transactions? On top of that, there aren’t a lot of options either for those businesses and I think it’s killing them. The system of fees is eating up the economy. The average asshole, at least in America, walks around has his bullshit job and gets eaten up by fees every single time he’s using an electronic method of payment,” Micon started a rant about the current system.
Be careful guys....regulators here and elsewhere (for sure China) are focusing on this now......legal and other issues include whether it is a security or currency or something else but there are folks bragging about pump and dump schemes and the dollar amounts now are definitely getting the regulators attention......this will not end well so dont be the last one turning the lights out......sample piece was up for a bit today on Dealbook and picked up by the Journal.....
simmer down nerd.
"Birds born in a cage think flying is an illness." - Alejandro Jodorowsky
"America is not so much a nightmare as a non-dream. The American non-dream is precisely a move to wipe the dream out of existence. The dream is a spontaneous happening and therefore dangerous to a control system set up by the non-dreamers." -- William S. Burroughs
also in case no one noticed bitcoin shed 20% of their volume today HUEueUEHuEHUEHUEHUEhEUEHUe
"Birds born in a cage think flying is an illness." - Alejandro Jodorowsky
"America is not so much a nightmare as a non-dream. The American non-dream is precisely a move to wipe the dream out of existence. The dream is a spontaneous happening and therefore dangerous to a control system set up by the non-dreamers." -- William S. Burroughs
I mucked a full house. FML
People are leaping off the Great Wall of China. There's prolly a line of people waiting.
Last edited by Sanlmar; 12-06-2013 at 07:02 PM.
About to crack below 700. As I said before I expect it to stabalize no higher than 500 (within the next few weeks). Growth in last month has been completely ridiculous. If bitcoin manages to hold at 400 by January it will be a huge victory still (insane return since start of year).
Last edited by BetCheckBet; 12-06-2013 at 07:24 PM.
even tho im absolutely 100% losing money on this debacle, its amusing enough not to mind.
"Birds born in a cage think flying is an illness." - Alejandro Jodorowsky
"America is not so much a nightmare as a non-dream. The American non-dream is precisely a move to wipe the dream out of existence. The dream is a spontaneous happening and therefore dangerous to a control system set up by the non-dreamers." -- William S. Burroughs
getting hit hard again-$700
It is fun watching the sales on http://bitcoin.clarkmoody.com/
Literally within a minute span some sales go through +/- 5%
There are definitely some people throwing around large amounts of money too.
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