Well, I guess we're going up then

Well, I guess we're going up then.

This is why we'll never have a nice and clean capitulation

Attached: IMG_20181229_153031.jpg (1901x1003, 604K)

They had all that time to short anywhere from 6-5k

Datamish paints a different picture like always, but the shorts outweigh the longs. So I guess we will see.

how the fuck can there be so many idiots shorting BTC at this level? it's unbelievable.

Attached: 1523395185623.png (479x155, 26K)

every long on bitmex is paired with a short, they always net to zero...

I always assumed bitmex was like a rigged casino, in that the exchange takes an opposite position while being able to manipulate the price.

that's very likely, but that wouldn't be visible in public statistics.
iirc these statistics are from accounts that willingly show their trades

Makes sense. Or possibly bitmex doesnt cover all positions, but picks the most profitable ones. No wonder the price is falling so slowly, they’re gonna milk it all the way down.

THEFUTUREOFMONEY

Prop up the price so everyones ringers pop
ahahahaha
banks do this shit all the time

It’s a gamble placed by degenerate gamblers. Yes the price is manipulated to clean out the dumb ones, but the bart doesn’t happen everytime, so you still have a chance to beat the house (bitmex)

>this many green IDs
bull season confirmed... fuck im not done accumulating

Check bitmex's post on April 30. They admit to have a trading desk inside the exchange. So they admit to actually trading against their customers. It's there, just need to look for it.

Yeah i wouldn’t be surprised. Still, if the shorts keep accumulating, eventually they wont be able to manipulate it enough and the exchange will fold under the shorting pressure.

A collapse of bitmex will make mt gox seem like a minor blip.

Where you seeing that nice clean display my nigga?

The situation that you are describing already happened. It was a huge problem but they solved it. I'm not sure if it was bitmex because I followed it very loosely. In a nutshell they let a trader short to such and extend that they had no way of paying out.

BitMEX - BTC settled futures IS killing the BTC price and it will continue until the volume drys up on BTC settled futures.

The BitMEX platform's derivatives are especially harmful to unregulated markets as these futures are settled in asset (BTC) instead of fiat.

When a contract settles or is sold on a BTC settled futures platform, the winner gets BTC (both short and long winners get BTC). The spot (fiat) market controls the settlement price and cannot be bought up with BTC. It can ONLY be sold down with BTC.

In a normal market there would be competing long traders offsetting the short traders. These long traders would be attempting to manipulate the spot up and therefore profit from their futures contract longs. This cannot happen in a BTC settled futures market without massive outside cash reserves. There is no way for a long trader to make fiat in order to buy the spot market up, they can only make BTC. The manipulation process ONLY works to the downside on BitMEX BTC settled futures. Since BitMEX is far and away the most volume, there is no competition for the short manipulators.

The manipulation cycle works like this:

They shorted futures, then dumped their BTC on the spot market causing their short futures positions to be profitable
They then close some futures and are paid in BTC from the people who took the 'long' side of the contract.
They open more short futures contracts and then dump the BTC they just earned on the spot market Finex, Stamp, Coinbase causing the new short futures contracts to be profitable.
If the volume was dominated on spot exchanges or on fiat settled futures exchanges then long/short competition would be offset as there would be the long side trying to manipulate the price up on the spot exchanges by the same process described here. BitMEX owning the most volume and settling futures in BTC, results in a structural advantage to shorts. This results further in manipulation of the BTC price to the downside.

You dumb idiot doesn't realise futures can also manipulate bitcoin price up. What a load of crap you just wrote.

Futures don't affect the Bitcoin index price.
Spot does, learn the fucking difference

How can I manipulate the Spot price if my profits come from xbt/usd futures which as SETTLED in Bitcoin.

I can only Sell XBT.
I don't have fiat....
>Brainlet

Who are you trading against when you trade on futures dumb idiot?

1. What is market making?
When you buy/sell into a market maker's bids on bitmex they hedge their position on spot. They just want the price difference between their buy and sell, they don't want to blow up holding on a long or short bag.

2. What is arbitrage?

You can sell futures and buy spot to arb the % difference between the spot and the futures. This creates price pressure on the spot.

For example:
If futures are trading 4% above spot. Then you can short futures and buy spot and earn an easy 4% at settlement.
Thus, if futures prices are above spot, then it encourages people to buy spot to arb.

If you still don't get it then it is clear you are a dumbass and I wasted my time educating you. Expect no more replies from me.

That's actually a good point you make. Never thought of that. I must say I'm kind of surprised to read this here, guess the board is not totally lost. Thanks user.

Last question. Is bitmex interested in opening a btc/fiat trading system?

Last last question. Do you know if baakt plans on doing this? (allowing futures and spot purchases with fiat)