Quote from: barbs on February 06, 2016, 11:48:42 AM

Yeah there was no reason to go long here at 390, from a random spike, was clearly a bulltrap. My post history from 2 days ago even said i'm closing my long at 385. I havent touched it since even when we popped over 390.

MattheCat - I agree with you about how this market is run. it is frustrating when you like bitcoin. However at the end of the day you were hoping to win on someone else's dime and you lost on yours. Don't hate the player, hate the game. I feel the same way but I'm hoping for a reasonable buy in window sometime over the next few months and i have my view of where we should be - instead of being a spaz and changing that view when someone pumps up the price out of nowhere for no reason, I'm sticking to it, and making money along the drops.

I'm not a good trader. Just do the opposite of what the whales do.

Yeah....I was hoping to win someones elses dime, just like when I sit down to a game of poker, I am hoping to walk away with other players money.

However, one thing sitting down to a game of poker, with a bunch of guys all just approaching the game at face value, playing with the same deck of cards, and by the same rules. Quite another when there is some great big fat toad sitting in the corner, with aces up his sleeves and mirrors reflecting the hands that all his opponents are holding.

Bitcoin is a massive global poker game, with just a few great big fat toads, sitting in the corner, with aces up their sleeves and a direct line to everyone elses hands.

Technical, Fundamental, Mike Hearn, Blockchain, Civil War.....all means nothing to the toads. They will pump n they will dump.

the like of cooldgamer can come on here pumping his gums about him being right, and me (everyone else) being wrong.....but the fact is, on BFX alone, on the morning (UTC) of 6th Feb 2016 3.5 Million USD worth of Long trades were liquidated at a loss as the market moved suddenly, and brutally against them. From the afternoon of the 4th Feb 2016 4000 BTC worth of short trades were liquidated at a loss, as the market moved suddenly, and brutally against them.

Seems like everyone here is a fucking loser and everyone is losing a dime, except for the fucking toads with Front Running access to Bitfinex's API, and of course their order books....not saying it is the exchange operators themselves or anything...but it is probably the exchange operators themselves.

Whilst I don't place much credence in many of the fundamental faerie stories that get bandied around this place, other than them providing fuel for whale pump n dumps, there is one 'story' that is certain to play a role in Bitcoins future chart progress. If the vast liquidity providing, trader majority are getting thier asses handed to them, and are being consistently dumbfounded by market action that flies in the face of everything that they think they knew, then liquidity will leave this market, and in the absence of any real fundamental drivers, with fewer and fewer fish for the whales to feed on, that means that market cap must start to shrink.....

.....not going to take a short on BTC likes. If I can see that the writing is on the wall, then so can every other two bit trader, and every other two bit traders takes a short, then you can be rest assured that BTC will rally right into thier margin call zones.