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Hi all, this weeks payouts are coming. Thanks for your patience.
I appreciate all the feedback. As for the minimum post count, here's my take:
My goal for providing this paid advertising service is 1. to promote btc.sx. 2. for users who like to discuss bitcoin here to regularly get paid for what they enjoy doing
I share an equal dislike for posts that do not add value and do not condone spammy posts.
I believe I've been as transparent as I can with the terms laid out in post #1. You are entitled to disagree with the terms and can choose whether or not to participate.
I acknowledge that this can be abused but have trust in the user-base here that it wont. If anyone has any suggestions on how I could improve the fairness of the scheme, then please share your thoughts. The system has to be easy to manage and track without requiring me to read every post. It equally shouldn't be over complicated.
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Yes you missed something.
You must have a minimum of 14 new posts each week.
You get paid based on your total posts.
OK but that's irrelevant.. review my question if needed. Hi polrpaul, what Damnsammit said is relevant. The payout amounts are based on total posts not how much you've posted each week. The 14 post minimum is to prevent non-active users from signing up for free payouts. |
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For those that weren't there, we had a great meet-up today. A big shout to Damien from Bitinnovate who bought everyone drinks (and food!).
sounds great Seal, any chance of another?  We now meet weekly! Usually on Wednesdays. Check facebook, meetup.com AND reddit for our weekly Sydney meets. Thanks to Jason for organising and for pushing the discussion agendas forward. There is a lot of great discussion going on in each meetup around the promotion of bitcoin to the general (Australian) public. If I'm not mistaken one of the members is also organising a lunchtime presentation on Bitcoin in the CBD in a couple of weeks. |
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Hi all,
I'd like to get a better idea of how wide the adoption rate is for Charitable giving using Bitcoin. If you know of a Charity accepting bitcoin can you post it below.
I'm hoping to use this information to put together a portal for those who would like to use their bitcoins for Charitable giving.
For larger charitable organisations (who are reluctant to use bitcoin) I would like to use a payment integration service to forward fiat donations from the portal directly to the charity of choice.
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Also the actual trade size can be calculated using the following: Size (BTC/pt) * Price (USD) * 100 or Size (BTC/pt) * Price (US cents) In the US, people call it leveraged trading, in Europe the term geared trading is more often used. The spreadsheet below shows the effective 'gearing' which is price dependent.  |
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ok.. i'm trying to get my head around this pip thing.. i took your long example from the faq. correct me where i'm wrong and please help me where i dont understand it. Bet size: 0.002 BTC/ptso i say.. here: for every pt (wich is 1 $cent so .. 0.01$) that goes up.. i want btc.sx to pay me 0.002btc (deposit of 2 BTC required)this is :Deposit = Size * Required Stop
The required stop is currently 1250 points. Thin this case 0.002 btc * 1250 points? seems not to be 2btc but it's my best guess.. Buy Price: US$120 = 12000 pointsthis is 120$*100 because points are actuall $cents. Close price on liquidation: US$128 = 12800 pointsthis is 128$*100 because points are actuall $cents. Profit = (12000 - ((12000^2) / 12800)) * 0.002i dont understand this calculation please fully explain. Profit = 1.5 BTC other questions.. can you show us how much btc or usd is borrowd if we place an 0.002btc/pt bet? i'm not fully understanding how leverage works here.. x100 ? so if i place bet 0.002btc/pt.. you automatically borrow 100 times this amount in usd if i want to go long? and on this the daily fund is calculated? how? Execution Spread: if you need to borrow btc .. where do you get it, gox?? since it apparently could be problematic when there is " high volatility or low liquidity" i want to know where to look to see if indeed the liquidity is low or the volatility is too high . what is the current maximum betsize? where do you get your current prices from? and please make "stop order" one of your biggest priorities possible a realy great example is the one from bitfinex.. you can move it up and down whenever you want.. with bitcoins volatility.. a few hours away from screen could be problematic... regards bump.. please answer my questions i'll add another question. why is the spread so high? Hi wonkytonky, apologies for the delayed response. I'll try my best to clear things up: - In the example above the required stop was 1000 points. Apologies for the confusion I'll clarify that in the FAQ.
- The required stop is changes and depends on market volatility and liquidity. The smaller it is, the cheaper it is to place trades. On the other hand, I have to balance the in-house trading risk that comes with placing the leveraged position out to market. If the position gaps out of your favour beyond the deposit amount held, you will not be charged a loss greater then the deposit amount (posted collateral) - btc.sx takes on this risk
- In market making, amounts are measured in points and pips and ticks. BTC.sx uses points, which in this case will denominate the price in US cents
- Execution spread refers to the difference in the display price and the actual traded price (after the order has been executed).
- Why is the spread so high? It isn't. The prices will incorporate the broker trading fee (as orders are placed out to market) and a conservative execution spread. The spread is added so that the actual execution price will often beat the display price (under normal market liquidity - at times of high volatility, it will match and sometimes be worse then display price).
A number of users have emailed the support address asking about what happens to the bitcoins they lose when trading on BTC.sx. Some users have the assumption that we take their bitcoins (as profit). This is not the case, we do not benefit from our users placing losing positions - they are less likely to place trades in the future. If a position placed goes against your favour, the bitcoins have to be sold to cover the amount that we have lost when the leveraged trade is liquidated. This is handled automatically by the trading engine. It will not deduct more than the amount required to cover the loss in our trading reserve. So where does the bitcoin go? Back out to market. |
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1LZxWaVMxZoFEMHiJALaksKep4KZg9wFHe EDIT: post count: 152 posts Miffman, you've not been paid as you've not completed a full week yet. |
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Damn I traveled these last couple of weeks and didn't post because I hate typing from my phone.
What is the weekly minimum?
In the original terms I requested an average of 2 posts a day. By my maths I make that 14 posts a week. The spreadsheet is set to register a payout on 12 posts a per calendar week to give my advertisers some flexibility and take into account the different times I process the payouts each Sunday. I will no longer be 'carrying over' posts from the prior week if you did not qualify the week before. Sorry but its a little too tricky to keep track of. I think you may missed adding me to the list
Apologies miffman, I'll get you added and paid out later today. Leave a post or drop me a PM if I missed anyone else. |
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Thanks for the interest Damnsammit, someone beat you to it. Here are this weeks payouts from my fancy new spreadsheet:  Payments will be made shortly. Again I would appreciate trust feedback if you are happy. For those asking how long I will be running this, for a while. I don't intend to stop any time soon. |
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Am I eligable with my current signature? I would love to be apart of this  Yes thats fine |
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This weeks payments are coming Thanks for your patience. On a side note, if someone can come up with a way track user post numbers easily and automatically I'd be happy to pay out a 0.15 BTC bounty. Can this be done in excel or a Google Docs worksheet with some sort of html / xml parsing? Can you elaborate a little? Do you just want a list of users and their posts for the most recent full week? I want the ability to type in usernames of participants in a spreadsheet and for the post count to automatically update. This will speed up my weekly tracking and make payouts easier. https://bitcointalk.org/index.php?action=profile;u=49269 - My profile The information can be found in each users profile ^. It would be handy if I could also see the users' current signature. Right now I'm doing this manually which is very laborious and time consuming. I have no need to see every post of each user (I trust that nobody here is getting their post count by trolling). I guess I could always stick a link by their name listing their latest posts if needed. Eg. https://bitcointalk.org/index.php?action=profile;u=49269;sa=showPosts*edit* this has been claimed |
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This weeks payments are coming Thanks for your patience. On a side note, if someone can come up with a way track user post numbers easily and automatically I'd be happy to pay out a 0.15 BTC bounty. Can this be done in excel or a Google Docs worksheet with some sort of html / xml parsing? |
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Correct. The capital provided for leveraging the trade is subject to a daily funding cost. I need to update the FAQ with details about how this is calculated, its currently between 0.2 - 1% a day.
can the users lend and take some risk ? also are there any plans for limit orders ? are there any plans for stop orders ? Hi there myself. Currently I will not accept external lenders. Advanced trading features are on my list of features to add however stop and limit orders are a lower priority for now. |
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I used psybits to write a press release for my site and I have to say that I was very impressed by the quality of his work. Almost immediately I saw a huge influx of traffic that has steadily grown over time. This was on top of a handful of writers who got in touch for further interviews (for more bitcoin news sites). The press release was done over a month ago and I'm still enjoying the benefits of it.
Great work.
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Hi all, here are the payouts for week 30th June to 7th July
i3lome - 230 - 1EcHpKFB9FpX51Yaw8yYsc4jn7Yn2aTgaG - 0.015 BTC
r3wt - 1780 - 1HZ1xyQrtCR1dDtz7pp1ucBZaJM21a5AXd - 0.05 BTC
Cranky4u - 239 - 16swu1exMoBr469xG4g3tvNk438yfP3c9a - DNQ (2 posts this week - 6 posts since last payout)
polrpaul - 208 - 1Lg4Wm8Qzna5KDvQxdQrpi87vuPe7MzCsP - 0.010 BTC (partial payout, 10 posts)
the joint - 2553 - 1CWwXXrcJZk6krbLcQtPQ8ZEvkrb42A3WW - DNQ (0 posts this week)
gary492 - 86 - 1P8MXBTjWEbjg1nYTtfztYxnYRvbbHaNqe - DNQ (payout made at 100 posts)
Bowjob - 805 - 1NKdsqqoXRZtriHnU5hHxmmue3zas8AQek - 0.03 BTC
tkbx - 216 - 18Y5oCQ4NtsmgRcdKARAFVy7gbfLVymbkH - 0.015 BTC
acs26 - 373 - 1HPmaY55bYmK6CzkBBXPgyWim7rdtVn7Ne - 0.02 BTC
Snail2 - 227 - 1AvqWjHQm7zE1cfJzzEmeioKttm2rEPP4E - 0.015 BTC
patricktim - 155 - 14XuRxHn5UV9YQhzqpCHgA3Eng9LYGNhnw - 0.013 BTC (partial payout, 12 posts)
Welcome on board
jdebunt - 791 - 1AYyCPUQRVH6HLG8p6hvuxvCqjuM57JMh5 - 0.03 BTC
Voodah - 210 - 1G6EQwiAfTVyTpK4j3XZ65CvonjDGrPsQ - 0.015 BTC
nimda - 1776 - 15D2SNV4d17dM3udvd6C298T3gezJqAguS - 0.05 BTC
mprep - 2071 - 1NeGT3LN7TDed378rA5V6cttywi8dJ6HP - 0.05 BTC
favdesu - 222 - 1LCNMNYCQB4SWWZJkfZghZ3pBTscKa7tfQ - 0.015 BTC
rouf553 - 238 - 1MfSeNc7p1cA28e9w7FE48qLJUfQT986MX - 0.015 BTC
IIOII - 370 - 1NVxSVYR6Ar36nYXRVnYqRMDSf7vCE6KZo - 0.02 BTC
0.363 BTC Paid out this week
*edit* 9/7/13 - added IIOII
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Hi all, yes this is still going.
Apologies mprep, I can't advance payments as its becoming tricky enough to track as it is. 2 more days to payday so hang tight.
For those who have received payments. I'd really appreciate some trust feedback.
<---------- over here
Thanks
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I'm interested to see how they will handle expansion if institutional money moves in and buys out all $20 mill straight away. What is their profit model from all of this?
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I'd like to know their model for trading the underlying asset. Where will the balance be held and who by? The Winkelvii?
I hope they do it right. The last thing we need is a crash caused by a bucket shop operation.
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My bad, I must have missed you two acs26 and Snail2.
I'll get payouts made to the both of you by the end of today.
No problem, Seal. By the way, what timezone are you in? I'm currently based out of Sydney. That puts me almost a day ahead of anyone on the west coast of America. I guess thats a good thing when it comes to paying you all off on time. |
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