/biz/ - Business & Finance

Its over man. Big guys are exiting.

what in the fuck

Seems like the most logical way to sell a lot of bitcoins.

look like longs just got fucked

Holy shit that was hard to watch

>>7917197
where's that REKT twitter? I wanna see

>>7917197
CME shit closes tomorrow?

Holy shit

>>7917227
https://twitter.com/bitmexrekt?lang=es pretty gory

400 million-san cashing some out.

>>7917240
jesus...

>>7917124
whalegames, whales saw tasty longs and decided to cash out/short at the same time

satoshi showing his balls to a hooker and she said " I need some more sir"

holy fuck a million souls crying

Stop loss hunt? Time to moon boyos.

>BTC will never be under 10k again

>>7917124
>As if millions of voices suddenly cried out in terror, and were suddenly silenced

>>7917124
Flash crash due to slippage. Wonder who set a low buy order and just became an instant millionaire.

Just degenerate gamblers getting wrecked by whales. No big deal. Hopefully the learn their fucking lesson and stop playing fuckfuck games with a market that can obliterate them that easily.

>>7917197
>>7917197
This is the kind of thing that reminds me we aren't playing with big boy bucks yet

>>7917124
Textbook market manipulation. I've been on the tradingview trollbox the whole day and a lot of people have been calling this.
I'm out of this, I'll buy in again when the bear market is over

>>7917342
this is why these bearfags and bullfags shorting and longing are fucking delusional, margin trade is not meant for this low market cap shit that people have such complete control over

>>7917342

I don't get it, why would a whale do that just to fuck with a few margin longs? Isn't he also losing a ton of money in the process?

stop loss hunting innit

>>7917394
for the luls

>>7917394
No because this can easily start a bear market due to the amount of bot trading. The whale will buy back in at much lower prices and laugh its way to the bank while normies with a few k in the market get rekt

>>7917394

No, they probably just made a ridiculous amount of money.

>>7917394
BWAHAHAHAHAHAHAHAHAHAHA

whales have long cashed out. they're just fucking with the market for shits n giggles

>>7917394
No, it's slippage rather
A bunch of orders (particularly margin orders) being triggered and causing the price to basically slip below where real current support is (and come back up just as quickly, but fucking all margin longs in the meantime)

That said, if one day I become rich enough, I will most definitely waste some money in making one big red thicc veiny candle, hopefully at an unsteady time in the price too, so as to cause an even bigger crash

>>7917354

it's more that none of the markets have any standards and practices that are up to date. Allows for way too much manipulation (bot, wash, stop-hunting, flashboy type behavior)

>>7917471
You're a fucking idiot.

>>7917394
Whales make bank by doing stop loss hunting. He might have sold as low as $9900 but due to stop loss triggering the market dropped further, allowing the whale to scoop up cheaper prices. You don't see it often with Bitcoin but it happens all the time on alts with low volume.

>>7917477
this is why I never use auto stop loss in cryptos just manual stop lost.

tho I have to stay up 24/7.

that was awesome, I was just waiting to buy back

>>7917478

>implying its not the exchanges themselves running bots.

>>7917478
true, but some of these standards are unfun, imo
given, I don't margin trade so my outlook is different than those who do, but still

>>7917394
>Whales push the price down
>Stop losses are triggered
>Accumulate Bitcoins sold by stop losses.

>>7917506

would not surprise me. this is why regulation and standards/practices is a good thing. if people want crypto to be grown-up it needs it. This shit is getting absurd.

>>7917124
The only thing I hate about this whole thing is that it gives validation to wannabe-insider-fags like >>7900287 (who have been wrong multiple times in the past) and now they can gloat.

>>7917425
>trigger a bear market

yeee this is making us go sub 10k lmao

>>7917541

I agree. I had my fun with whacky shitcoin moons, but its clear at this point that exchanges are simply too vulnerable to manipulation for adoption to ever occur.

Its about time for this game to mature.

>>7917629
nooo pls no another year pls I need to be neetmillionaire

>>7917541
You realise that the stock market is even worse these days, right?

>>7917124

>>7917675

wash trading is illegal on every major market. that alone makes all traditional markets better. flash-access is still a problem, but that is about it. you have stop hunting on most commodities exchanges but people actually get in trouble for it (not enough). You're fucking delusional if you think Binance/Bitfinex/et cetera are better exchanges in any way shape or form (other than easy access)

>>7917240
>https://twitter.com/bitmexrekt?lang=es pretty gory
my finger got tired scrolling down that

>>7917675

You would never ever see something like that in the stock market. Whales don't have enough to manipulate the market like that and most are tested against aggregates like Dow. Which have circuit breakers and trading that only happens for a specified time. Only crypto is this volatile.

I have this feeling that these invisible walls that are buying btc aren't trying to make money.

>>7917747
damn boy

>>7917811
What if the banks are buying BTC with invisible walls, so they can then dump it all at once to crash the price (without caring how much money it costs them).

>>7917841
>without caring how much money it costs them
lol.
the reason whales are whales is because they dont trade based on emotion

>>7917197
I've never seen a 1k candle before, I'm kind of scared to use any leverage over 5x now. Good thing I was shorting

>>7917946
They happened a couple times last year.. Around when the Chinese fud came out. It would usually signal the start of an extremely rapid 30% drop and equally as fast recovery.

>>7917841

Banks don't buy BTC. They pump and dump coins like XRP and TRX to get it.

>>7917989
Banks can't even buy BTC

And thats why, faggots, you dont use leverage in this market. One candle like this and you are fucked.

>>7917900
no they bought early

>newfags discover crypto
it has been documented for years bitfinex spoofs their order book by mirroring bitstamp's. when a big selloff occurs, they don't have the liquidity to cover it instantly and shit drops fast
going long on finex is more or less as risky as x100 margin on bitmex. less than 2 months ago, bitfinex alts dropped by 90-95% in an instant. flash crashes are the norm here

>>7917366
>>7917228
>>7917178
Are futures over?
Was that the dump, ffs
I need a bigger dump. Give hope

>>7918641
Looks like we're headed to the bottom of the trendline. We've been rejected from the top again and again, bulls have been losing their shirt this whole week, they will get tired

>>7917228
futures dont trade on saturdays, they reopen around 6pm ET on Sunday (not sure exactly what time)

>>7917487
this

>>7917487
it happened twice today luckily i had one of them.

Reminder that all you newfags are never going to make it. So stop stressing or just quit.

>>7917830
Fucking Insane!

>>7918790
he locked the price in at 17k so it's actually more

>>7918790
Bitmex has a morbid sense of humor.

>>7918790
i guess that means a suicide

>>7918812
still, that's 8.6 Billion at a minimum.
what the fuck?!
lol, yea he cleaned the fuck up

>>7918790
It's $860k, brainlet. And that's with leverage.

>>7918790

This can't be real. Can it?

>>7918790

I always thought the first number on that tweet was the dollar value of the liquidation not the BTC value

>>7918790
it might be as low as $8.6k with 100x leverage in that transaction

>>7918820
lmao,
nah no AndHero for me,
I never had the money to invest into BTC
but yea, definitely going to be some AndHeroing soon

>>7918790
lol morbid is underselling it don't cha think?

>>7918857
Pretty sure it is the dollar value lol

>>7918790
thats one way to launder money I suppose, instead of buying condos or real estate at 20x value comrade

>>7918790
are you mentally hadicapped or not know how bitmex works? that would have to be -100x leverage to be that much you fucking idiot. stupidity like this is inexcusable

>>7918846
you better redo ya math shit stain.

if he sold 865,310 Bitcoins for $10,037.50
simple math dictates you're a dumb ass
and the value in total is....
$8,685,549,125
8 = Billionth place
6 = 100-Millionth place
8 = 10-millionth place
5 = Millionth place
5 = 100-thousandth place
4 = 10-thousandth place
9 = thousandth place

lmao you gone get so Rekt

>>7918925
I never used Bitmex,
sorry if the numbers is off, I seen the tweet and read it as "Sold 865,310 bitcoins for $10,037.50 a pop"

I thought this was raw bitcoin-to-dollar amounts.

>>7918927
its contracts, one contract is worth 1 usd you fuckin retard

so am idiot who took a flyer on some bitcoin

this mean it's headed to the shitter?

>>7918944
well excuse me for not using Bitmex or contracts
lol either way,
Hope you lost money in this you cuck whore

>>7917228
yes, tomorrow there will come the biggest coronal mass ejection in history.

looks like a major exchange was hacked and some insider dumped his bags. Tomorrow is going to be bloody

>>7918856
lol, I may have jumped the gun.
evidently this is contracts valued at a dollar a wop

>>7918927
>>7918944
KEK

>>7918963
i lost enough money one that site, i dont touch it these days

>>7918969
um isn't the futures expiring and them shorting btc? Where is this exchange fud coming from

>>7918969
continue,
what exchange and how did you hear of this?

>>7918927
its 865k swap contracts each one has the value of 1 USD and that order is likely on leverage of higher than 5x in order to get liquidated like that

The principle for that position could be as low as 0.9 btc or so if it was 100x

>>7918927
Shut up, retard.
You failed to use common sense. Daily trading volume is under 8bil and you think it's possible that someone casually holds a futures contract worth over 8 billion. You are too dumb for this.

>>7919017
futures already expired and exchange hack is a fud

>>7919041
lol how I failed to use common sense and wasn't aware this was contracts or they were valued at a buck a piece

lmao stop it, you don't come across as better than me because you knew this was valued at a dollar. unless of course you made money on this, Huh? oh! you didn't?
lol I figured as much you in-the-basement-of-my-parents-cuck-whore

>>7919038
thank you for explaining this,
I mistakenly assumed this was bitcoins to dollars, didn't know this was contracts to dollars.

>>7919071
Post your wallet, poorfag.

>>7919105
Post your mother's tit's
penis pirate

>>7917327
Kotor 2 my nigga

>>7919129
lol

>>7917692
How good is that guy?

>>7918815
It's a combination of unreal tournament and dota 2 lines.

What do you say about this fine gentleman. Liquidated so hard he acquired aquaman powers by now (2 days ago).

https://twitter.com/BitmexRekt/status/966616470796070912

>>7919541
thats the worst one ive seen by far

>>7919071
as anon said, it's common sense to know nobody would casually hold a futures contract for 8 billion dollars
you're young, you said something stupid, it happens. we've all been in highschool and we've all said dumb shit. don't let your ego get in the way of learning from this
it's all anonymous so there's no point defending your pride except to yourself. but again, there's nothing wrong with being wrong. a successful person is someone who failed a hundred times where others have given up on the first mistake and made justifications to preserve their construction of self, stalling their own intellectual progress forever
don't be a slave in your own mind

>>7918790
Can someone explain to me what i'm looking at?
Are these people who earned this much or lost this much? I assume its the former, but who decides when to liquidate

>>7919982
lost. they got margin called.

>>7917366

Margin shorting is pretty safe if you use sensible margins like 5-8x, no one is going to instapump BTC up 25% instantly

>>7918943
>>7918790

Holy fuck the brainlets in this board, if 865k bitcoins were sold they'd literally drop the price of btc to like 1k, not to mention no exchange on the planet (besides maybe bitfinex) has the liquidity to handle a single person with that much money. Use your brain, do you think people with 10 billion keep it on exchanges? Fucking retard.

Just FYI, you should buy ASAP after you see stupid candles like this. Its obvious manipulation and its guaranteed to go up as the whales buy back.

>>7920097
lol bitfinex doesn't even have much liquidity, most of its volume comes from wash trading, it took barely 1000 btc to make the price drop from 10400 to 9500

>>7920097

even if someone did that, it would react like a flash crash and bring the price up instantly, the wick would be insane, but candle would still close way higher than the wick.

>>7920102
right but when...

>>7918927
you're a complete fucking retard, a flippant asshole who thinks you're smarter than anyone, and then have the nerve to reply like this >>7918963

just admit you fucked up and you're not as smart as you think, and next time you get into a heated debate with someone where you just KNOW you're right, stop and think about this moment and realize that maybe you're actually a retard who doesn't have a clue

>>7920102
Uhh you are new to cryptos, arent you

>>7918790

>>7920250
Looks like you might be taking this conversation a little too seriously.

>>7920330

He's not wrong though

People like the guy he replied to are annoying as fuck

1k in 2 months

>>7920250
Being this new

>>7920057
What happens exactly when these margin positions are liquidated? People lose all their margin and then what? Does the balance go in the negative and you are a debtor to the exchange or...?

>>7920475
You can't short more than you can afford to pay at the liquidation price.

>a 2k dump can move the price lower by 10% on fucking bitfinex
There are no buyers on the sidelines, it's all going to crash hard.

>>7920540
Not even 2k, check on the 1 min chart it was a pitiful 385 btc dump, most walls on bitfinex are fake there is no real liquidity

>>7918963
Glad to know there are brainlets like you in crypto.

>>7920535
Makes sense. But then why did I see some tweets showing negative balances when NEO flash crashed on Bitfinex? Or is it different from BitMEX?

>>7917354
This.
Trying this on a google stock would barely be noticed and get eaten up by the volume. Crypto markets are still young and barely have maybe 5-30 billion in them. Less if you don’t count miners contribution. It is so easy for small whales to do things like this still. If somebody with less than 0.01% of the supply can crash something... madness. But bullish signs towards future growth potential. Imagine the prices if real money ever invests? This is just hedge funds fucking about atm with small amounts. They are early and have no competition for their manipulation.

>>7920655
Because there was a cascading liquidation and not enough buy orders in the books to absorb all the longs being sold at once. An exchange is supposed to have measures in place to prevent that, Bitmex does have such measures, Bitfinex apparently does not, a shitty scam exchange all the way through.

People in this thread seriously begging for regulation. Go back to stocks you fucking faggots, this is rule by consensus, not by central authority.

>>7920725

customers wanting their exchanges to adhere to standards is not regulation. It's customers demanding good service. Are you a fucking mong?

>>7920755

How many legal unregulated markets are there? Why participate in the only one there is and then complain about it?

I wonder how many people were ruined from this one click

>>7920699
When Bitfinex CEO says the bitcoin price can be easily manipulated, when the guy has been involved in selling counterfeited software, when they're printing billions of dollars in tethers they can inject on margin in the market, when most volume comes from wash trading and most walls are fake, when it takes a 385 btc sell to drop the price by $700 on the biggest volume exchange, when whales have 10000+ or even 100000+ btc, you know damn well this is one big manipulated shit show

>>7920779

yes tether and fake volume are tricking the pigs.

crypto is not dead but it'll sleep for some time

>>7920805

Mid year at the latest. ChainLink's main net launch will herald an era of people using the phrase "smart contract" like they used ".com" during the internet boom.

>>7918790
thats contracts which equal 1 usd, it could easily be only .8 btc at 100x you fucking retard.

>>7918790
What's XBT?

>>7917471

>>7920843
It could very well help. Not to shill but ARKs (which LINK works with) one button ico system will make it all very normie friendly. It could make crypto accessible to all with link being the lynch pin.

>>7917754
>You would never ever see something like that in the stock market.
Not true.
https://en.wikipedia.org/wiki/2010_Flash_Crash

>>7919071
Calling people shitstains when you're the obvious fucking brainlet here is why you're never gonna make it

>>7918927
Bitmex sells contracts, which are pegged to the USD. 1 contract = $1. He had 865,310 contracts stupid. Learn what Bitmex is before running your mouth.

>>7919982
The system liquidates automatically, it's when their position is bad, if they're longing (betting the price goes up) and the price goes below a certain threshold, the system liquidates that position, and the person loses their money. Same in reverse, for shorting (betting the price drops). I forget what the percentage is, that their site calculates it at, they have the docs on there, you can read up on it.