 Any way to make the picture smaller with img tags? [img width=200 height=200]img://img[/img]
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I just pulled out of Bitcoinica after using it for months. The algorithm that determines the spread is rigged, I have no other way to explain it. The interest rates are nice, but if you look at the history they often fall to 0% throughout the day for no reason. But the spread is horrendous. The price on goxlive, btccharts, clark moody can be swinging wildly up and down on my screen, and yet the Bitcoinica spread will stay dead flat for hours. I'm used to watching real forex spreads react immediately to the market up and down all day. That's ignoring the fact that the spread is super massive, which limits you to swing trading only. If you overlayed a candlestick chart of Gox on top of the Bitcoinica "Daily Quote" chart you would end up with a huge "WHAT THE FUCK!?" look on your face. I guess what that does is even make swing trading impossible. During any big rally or dip the spread takes so long to react it's impossible to actually make a profit. I suppose if we were back in the days where the price moved $5 at a time you could make money, but not in this current market.
Bitcoinica pricing algorithm is very accurate. However we are not interested in the trading prices. We only concern about the liquidity. Sometimes 50 BTC can move Mt. Gox prices by a few cents, they won't be able to move Bitcoinica prices. I personally think that Bitcoinica prices are good for offline trading, because it's not the price that was traded by others seconds ago, it is the price that you can trade at, immediately. Now we have a much faster order processing system, and guarantee 100 BTC liquidity for a single order. The associated liquidity can be as high as 1000 BTC. (So sometimes you can place a 1000 BTC market order and trade without slippage or re-quotes!) If the 100 BTC liquidity is true, http://help.bitcoinica.com/kb/apps/liquidity needs to be updated. |
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how can I unsubscribe from this thread, please?
Delete every single post you made in this thread. |
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 221 BTC can buy a MSI GX640. |
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 It'd be interesting if we come up with a list of milestones on what the number of bitcoins could buy (at that time  ). 219 BTC can rent this for one month. |
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love this topic  subscribing. I only doubt opening price is meaningful. Would have picked weighted average or so instead. Weighted average is an excellent statistic too, which I happen to have in my spreadsheet. Only issue is that it's one day behind (the open is almost immediately available). Here's a chart (made now, but information up until yesterday):  Edit: Almost forgot, here's an interday:  As predicted, there was a recovery for May 1. Here's the new chart:  We won't have another chance till the 7 th, I believe. |
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According to Bitcoin charts it opened at 3.8 at 2011-05-10, and at 5.81 at 2011-05-11, so 2011-05-11 is the logical choice given how the survey is formulated.
Wouldn't 2011-05-10 be the logical choice then, because of the leap day? No, it would have to be 2012-05-10. Gee, aren't we clever today  I must be getting old if I'm dating things a year in the past  . Here are some charts:   We missed the chance to reach parity 2012-04-30, and it's going to be hard to reach parity until at least 2012-05-03. We won't have a real chance (I would say >5%) until 2012-05-07, three days before the infamous 2012-05-10. |
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Naw, I quit ages ago, but then these people brought this up again.
I did not post in this topic. |
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According to Bitcoin charts it opened at 3.8 at 2011-05-10, and at 5.81 at 2011-05-11, so 2011-05-11 is the logical choice given how the survey is formulated.
Wouldn't 2011-05-10 be the logical choice then, because of the leap day? |
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Actually it's been dead 3 times already.
This was the 4 th time. |
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To whoever voted April 29, that's no longer possible. There was a big dip, but not enough to wipe out the lead we still have. Tommorow, we have another chance of reaching the parity, but if we don't, there will be a lull period until we get another chance. funny how 2012-05-11 is picked twice
what was the price 365 days ago, and why is it important?
It isn't so much important as it is a random statistic. Since July 2011, Bitcoin has posted huge gains from the time 12 months ago. While nobody would claim that Bitcoin's price has gone up recently, it still has held above its price 365 days before (a "yearly" gain). The bubble will likely change that. 2012-05-11 is probably picked more often because it was the first choice, and people bandwagoned. Such is life. That's the day the price spiked up over the current price. So assuming steady price till then, that will be the day. Oh, right. That makes sense, but it's still unusual in that none of the dates around it were picked. The issue is, the thread did say 365 days ago and not a year ago. February 29 sort of messes that reasoning up. The spike happened on the 10th.... so people ought be picking the 9th? Yeah, but only the open price matters. I guess I'll emphasize that in the OP (it's in the poll question, but nobody reads that). As an aside, I made a chart demonstrating how close we're getting now:  |
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To whoever voted April 29, that's no longer possible. There was a big dip, but not enough to wipe out the lead we still have. Tommorow, we have another chance of reaching the parity, but if we don't, there will be a lull period until we get another chance. funny how 2012-05-11 is picked twice
what was the price 365 days ago, and why is it important?
It isn't so much important as it is a random statistic. Since July 2011, Bitcoin has posted huge gains from the time 12 months ago. While nobody would claim that Bitcoin's price has gone up recently, it still has held above its price 365 days before (a "yearly" gain). The bubble will likely change that. 2012-05-11 is probably picked more often because it was the first choice, and people bandwagoned. Such is life. That's the day the price spiked up over the current price. So assuming steady price till then, that will be the day. Oh, right. That makes sense, but it's still unusual in that none of the dates around it were picked. The issue is, the thread did say 365 days ago and not a year ago. February 29 sort of messes that reasoning up. |
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funny how 2012-05-11 is picked twice
what was the price 365 days ago, and why is it important?
It isn't so much important as it is a random statistic. Since July 2011, Bitcoin has posted huge gains from the time 12 months ago. While nobody would claim that Bitcoin's price has gone up recently, it still has held above its price 365 days before (a "yearly" gain). The bubble will likely change that. 2012-05-11 is probably picked more often because it was the first choice, and people bandwagoned. Such is life. (It's right now 2012-04-29 UTC. The open was $4.9794, compared to the open of $2.88 last year). By the way, to clarify, the period of no trade on Mt. Gox should be bridged with the 16.89 open (tradehill price was too volitile). (2011-06-20 to 2011-06-26) |
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As you are hopefully aware, the bitcoin price will likely not be repeating the same bubble pattern as last year. The question is, when will the prices intersect? We are currently 3x the 2011 bubble price, but have fallen below that mark before. Note that because of the leap year, 365 days ago is not equivalent to a year ago. To make it easier to pinpoint the date (because trades are not continuous), the open price is the only price that will be compared. June 20-26, 2011 did not have opens on Mt. Gox USD, so the opens will be considered $16.89 (not that it will likely matter considering our current situation). Edit: Two days after I made the chart, massive gains last year and decreases now are rapidly shrinking the boundary. Only 73% (no longer 200%) remains between this year and last year! Here's a new chart:  |
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So the "promotion" out of Newbie land is automatic, provided the user meets the minimum posts and hours requirement?
Exactly. It might take a few minutes, though, for the posting rights to be granted. |
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Let me repeat myself for the 100th time
I DON"T GIVE A FUCK
DEAL WITH IT
if you don't want to trade you have no business here and you need to find yourself a life. Take your nerd rage elsewhere.
They're pointing out that you are giving misleading advertising. Not anything common sense won't fix, but it's still good practice (as well as allow you more customers) to change the thread title to something more representative. |
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