EDIT: you shouldn't have said that about the price being too low, now some offers disappeared and best price is 0.14  All companies offer guidance. I'll try to be more reserved with my opinions in the future. EDIT2: 3 questions about GLBSE: 1.) there's 10000 shares in all, do we see somewhere how many are on the market and how many are held by you? 2.) can you issue new shares at any time, how does that work exactly? 3.) the shares you have in your account, can you only offer them for the initial price of 0.1 or can you also just sell them on the market?
1) Not that I know of. Perhaps I'll make this public information. 2) I believe so. I would NEVER issue new shares without a shareholder vote. Dilution is not a friend to the shareholder. 3) Shares can be sold at any price, at any time. |
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that forced selling is called a margin call. Any brokerage in the world would do the exact same thing. +1 Now I am wondering how stupid I am. Don't think of yourself as stupid. You just didn't understand what you were doing. Hopefully you've learned something from this experience, in which case your money was well spent. Most adults I know don't comprehend margin trading. If you do now, you're a step ahead of the game. |
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You are really, really, a COMPLETE idiot. https://bitcointalk.org/index.php?topic=42267.msg517128#msg517128"Depositing Bitcoins is equivalent to opening a long position of BTCUSD." -zhoutong He deposited bitcoins, and held a long position, while prices fell. He then got a margin call. Long position. No shorting. None. I know what I'm doing. I also know you are a complete, complete idiot. How much money have you lost since you started calling me an idiot? If you havent traded at bitcoinica why even open your fcking mouth?
I have many years of experience trading equities. I was trying to warn kids that didn't understand what they were doing that a short squeeze was building. Don't be angry because you didn't listen. Not to mention I actually registered on Bitcoinica today. |
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I feel sorry for OgNasty talking about things he has no clue about. You know he's just going to keep posting his idiot position until he loses everything.
There is no shorting if you deposit BTC. You automatically take a long position if you deposit BTC. You're welcome.
Fail. You obviously don't comprehend leverage, short positions or margin requirements. Your post solidifies the fact that you are one of the kids that have no clue what they are doing. |
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Is this your first time using margin? Did you think Bitcoinica was going to expose themselves to infinite loss on your behalf?
+1 I feel sorry for all of the kids shorting bitcoin that don't have any clue what they're doing. You know they're just going to keep adding to their short positions until they lose everything. |
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I've got a 1-year Xbox Live code if anyone wants to buy one from a trusted seller. I'd want $50 in BTC for it though...
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up until about 3 days ago there where still around 800 shares available on GLBSE at the starting price of 0.10 BTC/share. These seem to have disappeared without leaving a trace on bitcoincharts ( http://charts.glbse.com/charts/MergedMining#rg30zigHourlyzvztgSzm1g10zm2g25). If someone had bought them, one should see a volume bar there. I think they disappeared around Oct 19th. Any info on this for us? No problem. Once the parts for a mining rig were ordered, the company was then tied to the value of something. When the BTC price dropped, it would have allowed new investors to buy shares of the company at a much lower cost (in dollar terms) than the company was actually worth. For that reason, I decided that it was no longer in my shareholder's best interests to be selling shares for 0.1BTC/share. The sell orders you see on the GLBSE now are not being sold by the company. |
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- current asset list? can you update in main post?
I updated this information last night. I sold off all the BTC and deducted the amount of funds needed to pay bou707. The NMC are in the process of being sold off and are not accounted for in the current totals. I will have something better in place once the miner is operational. - timeline for starting mining
Yesterday we received a majority of the parts needed to get the first miner running. The remaining parts should arrive Friday/Saturday. I'm hoping to be mining away by Saturday morning. - question: which pool will you use? I opt for eligius, that way we can confirm mining operations/profit without needing a login (just the pool address necessary), easy namecoin merged mining support (I tried it, very simple)
I plan to use multiple pools due to all the DDOS attacks happening lately. I think using 1 pool would invite problems. - question: what OS do you use for mining?
I'm planning to use Win7 to begin with. I may switch to Ubuntu at some point if I feel that the operation would benefit from it. |
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Bitcoin is a sound idea in the long run but that doesn't mean it has to start rallying at this exact moment. How do you know that it won't go down to $1.5 or $1 or $0.5 before rallying?
It could fall to $0.02. I just hope we see a massive short squeeze at some point. It would be fun to watch. |
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I can't be the only person 100% short on Bitcoinica, chanting BURN BURN BURN while watching MtGox Live, and taking sick satisfaction in watching every single attempt to prop the price met with a sell off.
I'm sure you aren't. The question you should be asking yourself is, "What is going to happen when everyone who is short has to buy shares to cover?" My guess is most of the kids shorting BTC have absolutely no idea what they're doing and are going to lose everything as soon as one blip triggers their margin calls. As an experienced trader, I can tell you that it's fun to watch a stock you short keep dropping... However, it's 100x as fun to watch the shorts make a mad dash to buy shares to cover their shorts once the price starts rising. Anyone who has ever been involved in a short squeeze wouldn't dare be shorting BTC at a price this low. You're about 2 months too late. My guess is you were a bagholder on the way down, and are about to lose the rest of your investment on the way up. But please, keep adding to your short positions daily. Soon you'll be adding something else to your shorts... If this thread isn't screaming bullishness to the contrarian investor, nothing is. Anyone know how many bitcoins are short on Bitcoinica right now? I'm hoping it's about 7,000,000.  |
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Still no ticker up and it has been over 12 hours since the first share sold so I think something is wrong. I will try to get some info and then update the space with the company info.
Did you register a ticker for the asset? |
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Bitcoin is dead to for-profit miners, and will stay dead unless the price surges again, in which case it'll be profitable briefly.
False. My mining operation is still profitable and at the current difficulty, would remain profitable down to around $1/BTC. Once difficulty readjusts next, my profitability level will be around $0.85/BTC. Far from dead. |
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Are you going to be having more auctions like this in the future?
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Dang it. Now I really wish I would of typed 75. My conscious was saying 73, but I was like oh well and pulled the trigger at '72' [what I thought I had entered]. Ah well >.>
Epic last second bidding war. I felt like I was using eBay. |
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I'm praying ognasty is outta the country as well right now  Sorry bluefirecorp. I'm right here in the good ol' U S of A and the payment has already been sent. |
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Wow, I can't believe I typo'd on the 71, I had 72 written, next time, I should just go 75 >.>
I thought you won for a second with the 71. My heart skipped a beat. Luckily you didn't see my 71. Saved you 4 BTC.  You are the man pirateat40. |
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Wow, I can't believe I typo'd on the 71, I had 72 written, next time, I should just go 75 >.>
I thought you won for a second with the 71. My heart skipped a beat. Luckily you didn't see my 71. |
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Last Bids
I got my bid in before you closed it?  You won the 5970. Would you look at that, you're right! |
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Last Bids
I got my bid in before you closed it? |
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