Bitcoin Forum

Asterisk at the buy price - seems that the current rally is hugely levereged.

There was no bears at $7, we should wait tomorrow

And now it is gone - it was on only during the recent attack.

I can't access bitcoinica right now.  ???

How do you withdraw it?  MtGox code or wire transfer?

Zhou speaks that it isn't connected with shortage of money... https://bitcointalk.org/index.php?topic=56944.msg679061#msg679061 (https://bitcointalk.org/index.php?topic=56944.msg679061#msg679061)

Alas now it seems more permanent, not just the 15 seconds that he mentions.

I love how Zhou has placed the "Buy" button next to the Ask price in the instant execution window to encouraged noobs to make their BTC buys at the Ask resulting in an immediate loss on the spread to the buyer and an immediate profit for Bitcoinica.

But my sierrachartfeed works well... Means with API all in normal?

Sierra is not using live socket. It just pull http data periodically.

Bitcoinica may be overleveraged, but mtgox is still being held up without their help.  I don't have the balls or the cash to attempt a squeeze.

I wonder if there'll be a big move when it's fixed, the only thing is that with Goxxy being in Japan they're waking up around now to a public holiday so may be on short staff & later Monday it's also a public hols in Russia so maybe more rich ru's at home looking for some BTC action or vodka fuelled trading plus it's a full moon too  :P  gooôöòóoœøōõo looooôöòóoœøōõooooong (hold down the o key I just noticed gives this bunch of còól ōptions, nöt sure if that's this fôrum or my cømp, first time that I've seen it = neatõ)

LiLu - Tvoj Znak (Club Mix) (http://www.youtube.com/watch?v=Yw_sPyU_Aj8)

Yea he's got himself a nice a little business.  To open a position, you lose the spread (~1%) not just once, but as many times over as your leverage.  So each time you open a position at five to one leverage you're basically giving him 5% of your deposit, and at ten to one its 10%.  Bitcoinica daytraders would more than likely be seeing their accounts dwindling if this wasn't such a strong uptrend.

Even as it is, for my risk profile its better to just hold my coin for longer-run gains and sell on mtgox (or any other real exchange).  I'm not subject to a zhoutonging at every whim of the market, and I won't have to give away my (still fantastic) gains 5x over on those rare occasions when I will want to reduce my risk. 

Short-term traders just don't seem to realize how much your gains multiply themselves when you aren't hovering over the sell button and biting your nails during a monster fucking bull run.  You just have to let them run.  When you trade short-term all you're doing is giving away your gains to sophisticated market makers.  You still make money, but they don't multiply when you do that.

Its all in good fun though.  Not like any of us here are folks desperate enough to bet more than we can afford to lose, right?  ;)

CAN ANYONE LOAN ME 3000BTC I NEED THIS MAN IM SO CLOSE OHNORS ITS GOING DOWN FFFUUUUUUUU

I'll do that loan.. 2%/day, max 7 days?

buying on bitcoinica back up, my limit order was filled just over half an hour ago

noobs get to be Mini-Zhoutonged before they get Fully-Zhoutonged. ;D

I did.  Then I turned around and quadrupled some throw-away money, gave the gains to charity, and have not used Bitcoinica since.

In my opinion, Bitcoinica is pretty equivalent to a slightly complicated and undocumented coin-toss (unless one is actually hedging a more real-world endeavor.)  Happily I have the means to finance my own gambling and thus the luxury to avoid paying Zhou Tong for the privilege of playing in Bitcoin markets.

Can't really blame him for that, it's how he makes money. Limit orders are the way to go, I got burnt by a trailing stop order.

How limit orders are better?  They are realized at the bitcoinica price - not the MtGox one and are subject to the same spread as 'buy now'.

Correction came and gone and asterisk on the buy button is back.  Will there be a rally without bitcoinica or are we waiting for another correction?

The asterisk - because Zhou on the party of players, also doesn't want to lose money...   ;)

THIS !!!!!!!!

What is it _samefag_?!?
Forgive, I use the translator...

Because who any more hasn't given it value.  ;D

it's funny because no one really understands when naima posts anyway... :P

At me a bit non-standard humour  :D

Zhou doesn't lose any money, no matter if you all go long or not.*


*Barring slipping during liquidation, which could end you in a negative balance.

ok ok ... ;D

These days most profits come from internal matches, which are not subject to Mt. Gox fees or market spreads. Bitcoinica will continue relying on Mt. Gox, but will definitely be cheaper than Mt. Gox in the future. (And yes, I don't lose money still.)

Hey Zhou, I can see your online, thanks for rectifying the problem soon :)
Good luck!

Thanks for the answer. And "asterisk" is really connected with "an insufficient reserve USD or BTC" ?

It won't be cheaper if the market moves against me while your Redis server is down.... Fix this please.

Of course not. There is no scenario in which he would lose money.

...

Which one?.

He doesn't lose money when the prices go down. Except on the bitcoins he's holding.

The point is that a site like Bitcoinica has fixed expenses: namely, server space and bandwidth. The amount he makes from his users' trades may never be negative, but if it's less than the money he's spending to host the site, then in the big picture he's losing money.

Looks like it is now evident that this bitcoinica asterisk is a major force.  Can we have a rally without bitcoinica?

The Bitcoinica leverage is one of the triggers of a potential crash.

The * on bitcoinica just went away. Is this a sign believe in the market, rising went down?

Yeah - indeed it is now *-free.  The question is - if I start buying now - at what price we'll get again stopped by it?

You have leverage on bitcoinica, that's an advantage.

Please be careful with the accuracy of what you're saying, there are some typos in there which make it hard to understand.

My point is, though, that if you know with high certainty that the price is going to be 2x as high next week, then you should use bitcoinica, and that would increase your profits.