No mention of bitcoin in the preview though  This is likely because they don't have time to explain what Bitcoin is. If they used the word "Bitcoin" in the trailer, it wouldn't mean anything to most people who are watching. If they called it a "crypto currency", it would be just as meaningless. |
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Trading 10,000 BTC at a time is bad for many reasons. Trading 1,000 BTC is better. Trading 100 BTC is better yet. ..etc If you have a bot, there is no reason to do large trades when you can do many smaller trades (all thing being equal). I make small trades because I'm still not confident I'm any good yet, not that small though.
This is another reason. You can put $1 in and pretend it is 100% of the money you have. |
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Since it hasn't been said yet, I'll say it.
This could easily be fake.
You can edit the page's text, edit the page's source code, or even just edit the screen shot with photoshop.
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I think we will hit 100 in the middle of the year and then another correction that make the media say that bitcoin died...
That would be so awesome. Imagine buying with 5:1 from now to 100 then shorting during the crash. |
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Cashing out isn't an issue because its impossible to go into debt. Your force liquidated when your loss approaches the value of your deposit.
Not impossible and in fact it is very common. The loss can increase past the value of your deposit in the short window of time before liquidation. Then what keeps someone from never using the account again instead of paying the debt? Nothing. Bitcoinica makes enough money to cover those debts. |
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LOL! please think of a fix that will make everyone money.
Well, the best way for you to make money right now is to take advantage of the imminent long squeeze. Why do you believe there will be a long squeeze? IMO, it's the other way around: -Because you can't buy BTC on Bitcoinica, anyone who wishes to buy BTC will need to buy them on on MtGox, leading to higher prices. -Because you can't buy BTC on Bitcoinica, any bull with BTC will be LESS likely to sell because they can't re-buy them if they sell too low. I don't see your logic. If something is in short supply, its price goes up, not down. Am I missing something? There are a lot of long positions on Bitcoinica, so anyone with the power to push the price down will cause a lot of forced liquidations, and Bitcoinica will sell at very low prices. Basically it's you sell X BTC, Bitcoinica will then sell X BTC to you at bottom price. They can always do this. How is this different from normal? |
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LOL! please think of a fix that will make everyone money.
Well, the best way for you to make money right now is to take advantage of the imminent long squeeze. Why do you believe there will be a long squeeze? IMO, it's the other way around: -Because you can't buy BTC on Bitcoinica, anyone who wishes to buy BTC will need to buy them on on MtGox, leading to higher prices. -Because you can't buy BTC on Bitcoinica, any bull with BTC will be LESS likely to sell because they can't re-buy them if they sell too low. I don't see your logic. If something is in short supply, its price goes up, not down. Am I missing something? |
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its costing my dumb bot a lot of money, lol.
the ticker data is affected by this as the small amounts test where the spread is. When im working off the ticker data and making trades to be in positions, im screwed. my bad programming + my dumb bot + those stupid small trades = 24% loss today... needless to say, i turned my idiot bot off.
Why not just make your bot ignore trades under 0.01 BTC? |
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Since the official specs are updated I will decide the bet as "True" this weekend and distribute the coins. Please raise objections if you have any. http://betsofbitco.in/item?id=141Thank you everyone for your participation. No objection, but I would like to submit for the record that that was a poorly worded bet. Oh well. I know, the intent of the bet was to show the widget was a scam, in the end it became a bet on delivery dates. I have no objections. Delivery date? Even if they were shipping now the product doesn't meet the price or power claims as specified in the bet. Price hasn't changed. Hash power, yet to be determined for production version. Power consumption, you win. Wow, they sure did pull a scam... Let's put this in perspective. They were off by a factor of 3. Imagine someone saying "I overclocked my CPU to get 12 GHz". When they actually test the CPU, it gets 4 GHz. A factor of 3 is the difference between mediocre and being way better than the world record. If they intentionally told us the wrong number when they know the right number, then yes, it is a scam. If they unintentionally off by a factor of 3, then they are idiots. |
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If they don't close the bet soon, it will go to 10,000 BTC to 112.71 BTC. What a waste. I put 75 BTC on the bet while there were only small bets on each side -- giving the believers 5:1 odds. Now that the test results are in, someone put about 120-150 BTC on the bet and they will be receiving a similar amount of the winnings as me. Someone really needs to make a better betting site. |
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I calculated the commission rate for each volume size based upon today's numbers...
V ≤ 50 ... 2%
50 < V ≤ 500 ... 7.8%
500 < V ≤ 5,000 ... 17%
These numbers are absurd.
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It's a display error, not a trading error, I just chatted with one of the operators.
Nope. BTCUSD Market 50.0 - Executed @ 2.6762 8 minutes ago
BTCUSD Market -50.0 - Executed @ 2.6893 8 minutes ago
BTCUSD Market 50.0 - Executed @ 2.6761 8 minutes ago
BTCUSD Market 50.0 - Executed @ 2.6761 8 minutes ago
BTCUSD Market -50.0 - Executed @ 2.6894 8 minutes ago
BTCUSD Market -50.0 - Executed @ 2.6895 9 minutes ago
BTCUSD Market 50.0 - Executed @ 2.6759 9 minutes ago
BTCUSD Market -50.0 - Executed @ 2.6895 9 minutes ago
BTCUSD Market 50.0 - Executed @ 2.6685 9 minutes ago
BTCUSD Market -50.0 - Executed @ 2.6895 9 minutes ago
BTCUSD Market 50.0 - Executed @ 2.6685 9 minutes ago
BTCUSD Market -50.0 - Executed @ 2.6899 9 minutes ago
BTCUSD Market 50.0 - Executed @ 2.6684 9 minutes ago
BTCUSD Market -50.0 - Executed @ 2.6899 9 minutes ago
BTCUSD Market 50.0 - Executed @ 2.6684 9 minutes ago
BTCUSD Market -50.0 - Executed @ 2.6892 9 minutes ago
BTCUSD Market 50.0 - Executed @ 2.6683 10 minutes ago
BTCUSD Market -50.0 - Executed @ 2.6892 10 minutes ago
BTCUSD Market 50.0 - Executed @ 2.6682 10 minutes ago
BTCUSD Market -50.0 - Executed @ 2.6893 10 minutes ago
BTCUSD Market 50.0 - Executed @ 2.6683 10 minutes ago
BTCUSD Market -50.0 - Executed @ 2.6893 10 minutes ago
BTCUSD Market 50.0 - Executed @ 2.6682 10 minutes ago
BTCUSD Market -50.0 - Executed @ 2.6893 10 minutes ago
BTCUSD Market 50.0 - Executed @ 2.6682 10 minutes ago
BTCUSD Market -50.0 - Executed @ 2.6893 10 minutes ago
BTCUSD Market 50.0 - Executed @ 2.6682 10 minutes ago
BTCUSD Market -50.0 - Executed @ 2.6892 11 minutes ago
BTCUSD Market 50.0 - Executed @ 2.6682 11 minutes ago
BTCUSD Market -50.0 - Executed @ 2.6893 11 minutes ago
BTCUSD Market 50.0 - Executed @ 2.6682 11 minutes ago
BTCUSD Market -50.0 - Executed @ 2.6892 11 minutes ago
BTCUSD Market 50.0 - Executed @ 2.6682 11 minutes ago
BTCUSD Market -50.0 - Executed @ 2.6892 11 minutes ago
BTCUSD Market -50.0 - Executed @ 2.6893 11 minutes ago |
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Bitcoinica prices are 2.68926 / 2.66823
Buy price is lower than sell price!
BUY! SELL! BUY! SELL! BUY! SELL!
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I wasn't about to just throw money away on trial and error. Put $1 in. Pretend it's 100% of your money. If gain 10 cents then that is 10 percent. |
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S3052 said if it doesn't break 2.8 (which it hasn't yet), it should fall well below 2. I predict that if it doesn't go up it will go down. |
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I have a simple way to make it nearly impossible for anyone to cheat (including operators of large mining pools).
X = "Secret Password"
Y = hash("Secret Password")
Z = hash(hash("Secret Password"))
1) The person conducting the lottery makes up X and keeps it secret. (Make sure it is a very long password).
2) The person conducting the lottery keeps Y secret.
3) The person conducting the lottery posts Z publicly. Z is not yet used for anything.
4) Specify to everyone who is going to be betting what block hash will be used.
5) Bets are taken. (No more bets are taken before or after this step).
6) Wait for the block to be created and wait for 6-12 blocks after that.
7) Use Y and the block hash to produce a random number that is used to determine the result of the lottery.
8) The person conducting the lottery publicly posts Y (and optionally X). If the hash of Y doesn't produce Z, the person conducting the lottery is shown to be cheating. (However, the person conducting the lottery could just run away with your BTC without needing to make a fake X/Y/Z, so this is not something I need to protect against).
If the hashing method and secret password are sufficiently strong, then I only weakness I see is that if the person conducting the lottery is also the operator of a large mining pool the he could choose to forfeit valid blocks to alter the results of the lottery.
After writing this post, I realized there might be an even easier way -- use asymmetric encryption.
-Keep the private key private and the public key public.
-Encrypt the block hash with private key.
-Verify the result with public key.
-Use the same key set every time (since your private key will not be revealed).
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contradictory positions just cancel each other out. If you are betting short in the near term but long in the long term, then you should buy and sell accordingly.
This is usually the case, but it is not always true. Example: -Put 1 BTC in a Bitcoinica account. Buy 5 BTC (so that you are buying with a 5:1 margin). -Put 1 BTC in a Bitcoinica account. Sell 5 BTC (so that you are shorting with a 5:1 margin). -BTC double in price. -You now have 5 BTC instead of 2 BTC, even though your short and long positions "canceled out". (Note: This is just an example. Most of the time, doing this will result in forced liquidations on both accounts.) |
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