I think I'm doing it wrong  , but I don't know:  You're doing it right  You just went long with your 5:1 leverage with 1 BTC backing it =) You're currently in the red, because of the spreads. If it's going to move up, your profit will increase. If it moves down, your losses will become greater. Just sit tight and watch it closely now  |
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Out of curiosity I've decided to see what bitcoinica is all about with 1BTC.
get 10 times leverage authorised & choose a big momentum wave with no quick spike backs, let it ride up to $66.66666 & then cash out, good luck actually trying to extract the $s from Khou's kung fu grip tho I have no fucking clue what I'm doing. Haha, good luck  Let's hope for beginners luck Protip: Don't short the market atm :p |
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many thanks, it says there: Mt. Gox gives us a withdrawal limit. This means we can only withdraw so much each day on behalf of our clients. You should be able to access your Mt. Gox code after 24-48 hours. I'm sorry about the inconvenience, but our hands are tied in the matter. I suggest only using the Bitcoin network (you can even withdraw directly to your Mt. Gox deposit address) for withdrawals and deposits. Thank you for trading with Bitcoinica, -Jon & WhyTF didn't bitcoinica just not make this clear on the withdrawals page, of corse I could have used my Mt.Gox deposit address instead - if I had known or if they had told me that they were maxed out  (not actually but I can imaging that many would be over this kind of so easily avoidable BS) Hmm, try contacting support. They can probably cancel your withdrawal, so you can withdraw over the Bitcoin Network instead. |
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can anyone explain me how partial liquidation is working  If you partially liquidate a position you won't get the profit/loss calculated into your account funds yet, but your tradeable balance does increase, meaning you can use those funds for new positions if you want. Edit: Actually, you don't have to liquidate for that. Your tradeable balance increases/decreases as your P/L goes up and down as well. |
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.. is it only me or are spreads really getting bigger and bigger? i don't get it at all, why spreads are that high on bitcoinica, if it is the second largest 'exchange' (i know it is no real one) by volume. spreads as high as 20 cent, sometimes 30 and i have even seen some higher than 40 cents.. just insane. zhouthong, do something about this, seriously! .. There's no depth in a 10 cents range on Mtgox, so they need those spreads. Spreads will generally become much smaller once we've been "stable" for a while, which IMO, isn't going to happen anytime soon lol - are you going to tell me, they need a 40-cent-spread if i want to trade.. 1BTC?! .. i think zhoutong should open up his order book - at least he should open up the book for the LIMIT and STOP orders, presupposed there are enought orders to avoid serious market manipulation ( aka 'zhouthonging' the shit out of ppl with heavy leveraged positions) The spread is only 10 cents, and second of all they need those spreads for up to 50 BTC offers. They can't start offering different spreads for different sized orders, it would become a mess. Btw, for those low numbers you should really just use Mtgox. Much better for small trades. Only use Bitcoinica when you're using a lot more money to play around with and if you want to use leverage. |
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.. is it only me or are spreads really getting bigger and bigger? i don't get it at all, why spreads are that high on bitcoinica, if it is the second largest 'exchange' (i know it is no real one) by volume. spreads as high as 20 cent, sometimes 30 and i have even seen some higher than 40 cents.. just insane. zhouthong, do something about this, seriously! .. There's no depth in a 10 cents range on Mtgox, so they need those spreads. Spreads will generally become much smaller once we've been "stable" for a while, which IMO, isn't going to happen anytime soon |
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Bit-pay is going to have a booth at CES (consumer electronic show) in Vegas next week
prepare for lift off
$10 is easy on the horizon
Seriously?! Wow, that's one of the best spots I can image to bring this technology to the media and to more people. Loads of smart and technically inclined people, who will definitely understand this much faster and see the benefits it can bring. Kudos to Bit-Pay! Let's hope the media coverage will be good |
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The last screenshot is showing someone who shorted for 14150 BTC.
Anybody want to squeeze him up ? Haha, my thoughts exactly We can't see at what leverage it is, though. If he's at 1:1 it's not that easy to squeeze him, but we can make him start losing by pushing the price higher. Perhaps he will panic-liquidate and push the price even higher! |
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The last screenshot is showing someone who shorted for 14150 BTC. The first one is showing someone who went long for 20000BTC.
the P/L for the shorted position is blocked off i presume? What the heck is P/L and all this trading terminology ? I feel like an idiot when I read the speculation boards. LOL P/L means Profit/Loss Anyone know what happens when the guy presses "Liquidate" on his 20k BTC position? The sell price is $6.06, but that's only 50 BTC of liquidity, right? How does he know what price he will get on the other 19,950 BTC and where the spread will end up?
He doesn't. That's why he should use limit orders. OK, but I keep reading that there's no way on bitcoinica to partially close one's position. So if guy sets a limit order, it will close all or none, but never partially? You can close it partially, the profit/loss just won't be added/subtracted to your account before the entire position has been closed. |
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The last screenshot is showing someone who shorted for 14150 BTC. The first one is showing someone who went long for 20000BTC.
the P/L for the shorted position is blocked off i presume? Yeah, seems like it. |
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Anyone know what happens when the guy presses "Liquidate" on his 20k BTC position? The sell price is $6.06, but that's only 50 BTC of liquidity, right? How does he know what price he will get on the other 19,950 BTC and where the spread will end up?
He doesn't. That's why he should use limit orders. |
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The question now is: What will be the first day when we jump $2 instead of $1.5 within 24 hours?  Anyone holding at-least 100 BTC is in for some GOOD times! There will be corrections on the way, but I think we are now at the point of no return. If you have been watching/reading on Bitcoin and still are not in, act now, or regret forever... if you hesitate, you're dead. this is what yall need to do  Is that your position?  Nice one! |
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The last screenshot is showing someone who shorted for 14150 BTC. The first one is showing someone who went long for 20000BTC.
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sounds like u funded the original trade with USD's?
i don't get it. they've claimed repeatedly they could cash you out in USD's by selling for you on gox? what gives?
I funded the account with a MtGox USD voucher. When I closed my position I had over 5x the USD that I started with. I tried to withdraw from Bitcoinica with a MtGox USD voucher, and they did not have enough funds available to give me the voucher. I even tried a small amount of $100 and got the same error "Mt Gox limit temporarily reached" or something like that. So I exchanged the USD for Bitcoins in bitcoinica, and just withdrew them to my personal bitcoin wallet, and it worked out just fine. that blows as far as i'm concerned. everyone of those Bitcoinica pumpers assured me that the longs in a one directional mkt up like we have now and even in a red flag event had immediate access to USD's to cash out. Cypherdoc, this issue has nothing to do with the redflag event. The "Mt Gox limit temporarily reached" error is caused by the daily withdrawal limit that Mtgox sets for all clients, including Bitcoinica. Of course they already had it increased, but it's still not enough to cover all the withdrawals every day. It's already been posted on these forums here somewhere. I'll see if I can find the original post. |
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or maybe just a GUI option to rescan?
Yeah, that would a nice addition! Way easier to ask someone to click a rescan button somewhere, than to explain how to start up bitcoin with the -rescan switch. Do you guys think it would be a good idea for the client to check if the wallet has been switched out, and if so, to do an automatic rescan?
Newer versions do this already. Ah, my bad. Great to hear this has already been implemented! In which version has this been implemented? |
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This is amazing, great work! Do you happen to have any idea when this is going to get merged into a release of the mainclient? Thanks! |
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I've come across so many threads in which people were switching around wallets, only to come here on the forums stating their coins aren't showing up. Obviously, most of the times when doing this, it requires a -rescan for the client to find the transactions in the blockchain belonging to the new wallet, but far too many people don't realize this. Do you guys think it would be a good idea for the client to check if the wallet has been switched out, and if so, to do an automatic rescan? Perhaps prompting the user, so if the user doesn't want it to rescan, he could cancel it? Seems like a good way to lessen the "coins-not-showing-up" problems for the less technical users.
Thanks for reading!
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10 cents is a big spread? How frequently are you trading?
10 cents spread on a 5$ price _is_ a big spread. Just saying |
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The spreads bothered me until I stopped day trading on Bitcoinica and started swing trading. My trading windows are now about a week long and I'm looking for huge swings in either direction. The spread doesn't matter to me at that point, when I'm well into the green.
+1 Day trading sucks on Bitcoinica for obvious reasons ^^ |
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