Z the question is ppl orders will be made or not ?
Our data is kept inact. Any order placed before the shutdown will still be valid. However, no order execution will happen (no zhoutonging either). If the market moves significantly, we will come up with a proposal to compensate disadvantaged customers once the investigation is complete. |
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Honestly, I know people want to be able to withdraw in "real-time" but why is it so terrible to have a pending period for large transfers? Surely this would avoid such massive withdrawals in near "real-time" without you being able to suspend it in case of hacks/theft?
We really wanted to keep the blockchain and wallet in MySQL database. But we don't have a technical solution yet. Interacting with the official client is painful. |
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I have repeatedly told people that Bitcoinica is a scam and that Bitcoinica staff should be banned from the forums.
Maybe now people will actually listen.
Bitcoinica is a regulated entity, verifiable by government records. We are one of the most legitimate businesses in Bitcoin community, by any standard. |
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it was Rackspace fault ?
Not likely. I could be a email account compromise. Someone reset the password and gained access to the account. My email account history is normal, not sure about other owners. (Yes, the emails were sent to everyone!) |
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We have over 80% of our Bitcoins in offline wallets at the moment before the attack. We had to keep a large balance because the withdrawals are huge!
use mtgox code for any withdrawals above 500 btc /24h The hacker almost gained access to our Mt. Gox API keys, before I revoke them! He could get 30,000+ BTC easily if I was asleep, or busy. |
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Today, we have discovered a suspicious Bitcoin transaction that doesn't seem to be initiated by any one of the company owners. Some of them are not online at the moment so this is not conclusive.
Suspicious transaction:
{
"account" : "",
"address" : "182tGyiczhXSSCTciVujNRkkMw1zQxUVhp",
"category" : "send",
"amount" : -18547.66867623,
"fee" : 0.00000000,
"blockhash" : "00000000000003f6bfd3e2fcbf76091853b28be234b5473a67f89b9d5bee019c",
"blockindex" : 1,
"txid" : "7a22917744aa9ed740faf3068a2f895424ed816ed1a04012b47df7a493f056e8",
"time" : 1336738723
},
We have contacted Rackspace to suspend all our servers and lock down our accounts. All your trading and financial data is safe (as far as I know), apart from the Bitcoin loss.
Thank you for your patience and understanding while we investigate this issue in detail.
It's really hard to believe that after the linode debacle, you guys are still leaving that many coins on hosted systems. Please learn about offline transactions and how to properly decouple the wallet from your trading system. Reading the armory threads would be a good place to start. We have over 80% of our Bitcoins in offline wallets at the moment before the attack. We had to keep a large balance because the withdrawals are huge! |
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New thread: https://bitcointalk.org/index.php?topic=84042Today, we have discovered a suspicious Bitcoin transaction that doesn't seem to be initiated by any one of the company owners. Some of them are not online at the moment so this is not conclusive. Suspicious transaction: { "account" : "", "address" : "182tGyiczhXSSCTciVujNRkkMw1zQxUVhp", "category" : "send", "amount" : -18547.66867623, "fee" : 0.00000000, "blockhash" : "00000000000003f6bfd3e2fcbf76091853b28be234b5473a67f89b9d5bee019c", "blockindex" : 1, "txid" : "7a22917744aa9ed740faf3068a2f895424ed816ed1a04012b47df7a493f056e8", "time" : 1336738723 }, We have contacted Rackspace to suspend all our servers and lock down our accounts. All your trading and financial data is safe (as far as I know), apart from the Bitcoin loss. Thank you for your patience and understanding while we investigate this issue in detail.
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Open interest is the smaller of the opening long and opening short. So there are at least 200,000 BTC worth of open positions.
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Bitcoinica has started using a new bank account in New Zealand for wire transfers. This account is opened with Bitcoinica's banking partner Core Credit Limited (an approved FSP in New Zealand).
From today, please send wire transfers to the following destination:
[EDIT: We have temporarily suspended wire deposits. More details will be announced soon.]
Also, you are now required to create a deposit notification when you send the funds. There are no incoming transfer fees, but intermediary fees (if any) will be deducted from the transfer amount.
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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!) |
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FYI, Bitcoinica introduced interest system in mid-Feb.
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I put myself in the "Maybe" list.
I'll try to attend if possible. Excited to meet great Bitcoin guys!
Side note: I can't enter a bar...
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Has anyone done this just to earn the APY?
I am considering it as it seems the safest way to earn interest on BTC, however, my main worry is that they may prevent withdrawals without getting all kinds of crazy info about you. If the Feds ever attack Bitcoin, then expect the exchanges to become frozen IMO.
Any opinions on this?
Although I trust Bitcoinica, I don't trust the Feds, so at present I keep no funds with Bitcoinica. Which sucks b/c earning interest in a deflationary currency is pretty sweet.
When we announced the Terms of Service, we left our users two options: - Agree and continue trading - Disagree and withdraw all funds We didn't force you to accept something before you are able to take your funds out. When we implement compulsory KYC procedures, we will follow the same rules. Also, Bitcoinica's interest system is not a ponzi scheme. Our interest rates are set based on outstanding positions and user balances. All payouts are from the swaps that we charge from positions. Currently, the Open Interest is almost 90,000 BTC, so there are a lot of swaps to be collected and distributed (over $200 everyday). |
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At this moment, you don't have to. However, you must be ready to submit the documents should we require.
As this is a requirement (that is not yet in effect) from New Zealand government, we will notify everyone in advance when the time comes.
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Sorry to hear that.
I'm loving BitPiggy very much. The sell rates are pretty good!
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I am really suspicious of this. A week after it is announced that Bitcoinica is legally registered to do what it does (whatever that means), it goes under new direct management. Unless Zhou needs to focus more on his studies or there is some kind of plan to seriously compete against MtGox, this would suggest Bitcoinica is not as profitable as claimed. Of course losing 45,000 bitcoins would hurt anyone.
I have been utilising a lot of assistance from other people (including Intersango guys) since 6 months ago. I don't have too much time for day-to-day operations because of studies. Losing bitcoins is not part of the concern. |
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Press Release: https://www.bitcoinica.com/posts/joining-forces-with-bitcoin-consultancyApril 25, 2012 — It's a "big news" week at Bitcoinica. After announcing our corporate reorganization as a registered Financial Services Provider, we'd like to share another big announcement. Going forward, Bitcoinca will be managed and operated by the well known Bitcoin Consultancy team. Bitcoin Consultancy has been an influential force for bitcoin since its early days. Founders Donald Norman, Patrick Strateman and Amir Taaki are well known for their contributions to bitcoin open source, public outreach, and special efforts to encourage best practices in online security. The Bitcoin Consultancy team will be responsible for the daily operations of Bitcoinica, including customer support, compliance and new features. We have some amazing improvements in the works that we know our customers will love. As Bitcoinica's founder I will continue to be involved in Bitcoinica, both aiding in the operational transition and as an ongoing contributor the long-term vision for Bitcoinica. I have enjoyed our journey together and look forward to exciting times ahead. Zhou Tong Bitcoinica operates one of the most popular Bitcoin trading platforms, with advanced features such as margin trading, short selling and stop orders. Bitcoin users can use Bitcoinica to trade Bitcoins, exchange currencies and receive interests on deposits. |
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Log in, and then visit the TOS page and see if you have the accept buttons.
If no, I'll do a reset for you.
Zhou, the buttons don't appear on http://bitcoinica.com/pages/tos for me. However I appear to have a /pages/tos_agree in my browser history. If you can reset it so that I can definitely click the agree, that would be great. Thanks. marked Whoops, our backend doesn't allow us to change your agree/decline status, because that will have legal implications. You can read the whole TOS and if you don't agree, you can just let me know. Otherwise, no action will be taken because you have the tos_agree access in your browser history, and we have logged that as well. |
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And the starfish is back. :-(
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