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I do think that it's a bit off that I can't even withdraw the same amount of bitcoins & cash that I deposited there, BTC 300 & $33
I gambled with these on high leverage & have an unrealised profit of well over $1,000 which I'm using to support an open long position
Back in Thanksgiving time I shorted with very high leverage & closed out with about a $600 loss that I paid in $ cash for to free up my Btc 300 again for round two so technically until I close out my position I am still well down even after I (hopefully) get to withdraw my initial stake
mumblemumblemumble
message now re withdrawal of my funds, same with: "about 2 hours ago"
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both withdrawals have now been in the zhoutong kung fu wallet grip hold for over 1 hour  the message then defaults to "about 1 hour ago" some info link would be more professional, like eta of when the funds might actually be expected to get released |
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If you never sell then you never really have a profit.
Yup. A good practice is to scale in and scale out. For example: I closed 10% of my open positions today. On any significant declines, I'll probably add that back because my analysis suggests there's still room to rise. If I don't get the opportunity, I'll just continue to ride up with the other 90% of my holdings. Trading is counterintuitive to your emotions. Learn to love the sinking pit in your gut when things don't move your way (then buy) and grow wary of the elated sensation upon doubling, tripling or hitting a 10-bagger (and sell). If you keep at it, you'll develop your own trading style - short vs. long term, momentum chasing, etc. In general, you just have to heed and control your emotions. Best! Well said. ^ this & also Litt if you'd care to share pse list your better places as I could do with some diversification maybe |
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hmm, when I say np it's actually "Pending approval" "Mt. Gox limit reached temporarily" for a while now - 15 minutes & counting but I guess it will clear eventually - I hope  that is... 30 minutes now, how long is 'temporarily' I wonder same thing happening with $s as I had just $30 odd there too that I tried to convert to a Goxy code over 19 minutes ago It's like the bloody hotel california You can checkout any time you like, But your bitcoins can never leave! |
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many thanks both, yes I've been discovering getting limit sales met reduces my long position & lowers it's base price, almost like locking in profit - not quite as I can't withdraw it but locking down risk a lot & yes it will let me send the original 300 btc back to Gox np, so that still leaves about half my net value which is plenty to safeguard my remaining 243 long position - it's about the same as when I originally deposited the 300, so now I can effectively play with just the house's money (or that of peeps who got short squeezed out) with no risk of my Btc or capital except that until I close out the position I don't get the $s to cover my thanksgiving losses or the funds to cover the cost of 170 of the 300 bitcoins that I gambled with that I am up atm
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over the last 6 hours I have closed most of my long position through limit sales, I was going to close it all out but decided to leave some now as I kind of believe I may understand some of how bitcoinica works, I have 300 Btc on deposit there & now no leverage, down from 1343 Btc long to just 243 now, sitting on a healthy unrealised profit which I can't access until I fully close out the position which is fine as I don't need it right now & anyway thought that those 300 Btc were already probably lost over the last few days wild swings - I must have been close to being zhoutonged quite a few times, so this on paper at least covers my big shorting losses from over thanksgiving & also covers the original cost of 170 of the 300 Btc I've deposited there, I wondering now if I can withdraw those 300 Btc & just use the unrealised profit as security for my position - I'm guessing so but any input would be much appreciated
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many thanks to all, yes that's what i have been doing - placing limit sell orders for Btc 50 at Btc 0.005 intervals somewhere above the instant sell price & when they get filled on spikes or bitcoinica balancing their books then I'm getting a much better price, better even than on Mt.Gox live at times
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I wasn't answering you. I'm trying to find out how it works too.
ah OK sry, btw 1 Btc reward to first person who can explain the above couple of questions to me, also is it normally better to sell one's position little by little rather than liquidate (assuming the market is relatively stable) & is the end result the same, many thanks |
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I don't understand sorry, I started with a 300Btc deposit & went long 300 a while back, when the price rose I increased the number of bitcoins that I was long with leverage now I would like to know if I can retain my original 300 Btc long position by selling bitcoins or do I have to liquidate the whole position (or sell all little by little) in order to release the $ profit for withdrawal - sry to be such a trading noob
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I'm probably being thick here but would someone be kind enough to explain how I can reduce my long position on bitcoinica (profit taking) without liquidating it all, I have made a few sales & that reduces the number of bitcoins that I am long but it doesn't release the proceeds in $ for me to withdrawal to Mt.Gox - do I have to liquidate my whole position to free up those funds or just until the number of bitcoins that I am long matches the number that I initially deposited so that there's then no leverage, ideally I would like to leave those long & sell my leveraged positions & remove that profit in $, many thanks
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Just Paypal commerce is around 100 Billion and the majority of that is just in the US and Europe.
$100B transferred by PayPal in one year? What's special about a year? You can't compare total value of bitcoins to an amount of money flow in PayPal over an arbitrarily chosen time period. This^ |
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a few days ago someone dooming & glooming about the prospects for bitcoinica was predicted that the really big bad super manipulators would be soon arriving on the scene & sniffing around it's skirts looking for big kills, killing it included, well if so first they'll need to build up a hefty war chest of Btc - maybe $500,000 worth I'm guessing so to expect price goodness until they have amassed enough to launch an all out Bitchaos & I expect that there's more than one mega player who's joined the table since xmas/new years party networking & the volatility once they start to spar may be extreme, I doubt though that they'll be able to get fully loaded without first pushing the price up to about $9
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If it doesnt go above 1 billion then it would have failed and collapsed.
How much commerce in the whole world can be done with 1 Billion worth only?
I chose $1 B as a minimum critical mass otherwise we'll be looking at a niche curiosity but one that may well still have it's uses & longetitity |
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Ummm Zhoutong, Last time you recommended a long squeeze  What are your thoughts on a short squeeze atm? go for it |
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yep, UTC dates & if 2012 then it's up to $2500 in prizes np - the 20 Btc have been pre-bought (in Nov 2011)  I'll send them to my sig later for safe keeping (once I've checked that I've got the private key to that safe still) highest market cap so far the June 2011 irrational exuberance to about $33 for approx 7 million bits to give roughly $230,000,000 |
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With a max of 21 million Bitcoins having been released in 2033 then for a $1 B ($1,000,000,000) valuation we get a price of $47.62 per Btc, or atm with over 8 million Btc in the wild we would need a price of approx $125 per Btc, so the question is on what date will Bitcoin become a $1 B entity - closest date wins a 5 Btc prize ~ coins held here: 1BiLLioNPlease express date as YYYY MM DD or as 29th Feb 2012 say, thread will be locked on the 31st Jan 2012 - please don't edit your dates except for typos/clarity, my rules & common sense, i.e. if someone puts the same date as one already chosen the first person wins it & ambiguous dates will be void, 1 entry per pre-existing forum ID Plus a second competition with the same rules & also for a 5 Btc prize for when the value of a single Bitcoin will equal 1 gram of gold, as shown here in $s, i.e. atm $51.25 ~ coins held here: 1GramAu1http://goldprice.org/gold-price-per-kilo.htmlIf 1 person wins both then I shall double their prize to 20 Btc total ~ the extra coins held here: 1x2winsFor those who say never, then please state that & your date shall then be for when a fatal blow hits Bitcoin or failing that if the price falls below $0.10 (prize as above & only payable in zombie Btc) Edit to add a copy of the summary post: #88Here's the final summary of the dates chosen, voting & prize entries are now closed, with the time frame of the 4 years up to the end of 2017 being the most popular years for issued Bitcoins to reach $1 B in the poll votes, but 2012 taking it in the date choice & the same for 1 BTC to gain parity with 1 gm Au. Here also a rounded up table of the approx BTC price for achieving $1 B in the years of them being mined & the $ value of each 5 BTC prize offered - though I chose dates for 2015 myself the sooner I get to give those prizes away the happier I'll be  Year 1BTC 5BTC 5BTC 20BTC (the doubled prize for winning both dates) 2012 $110 $550 $550 $2,2002013 $95 $475 $475 $1,900 <--- WTG BTC & Scott J ~ March 2013 for the double prize! 2014 $80 $400 $400 $1,600 2015 $75 $375 $375 $1,500 2016 $65 $325 $325 $1,300 2018 $60 $300 $300 $1,200 2020 $55 $275 $275 $1,100 2023 $50 $250 $250 $1,000 2033 $48 $238 $238 $952 Final Summary $1B2012 05 01 miscreanity
2012 05 10 lord bookington
2012 05 16 cloon
2012 06 01 finway
2012 06 27 Goat
2012 07 04 kjlimo
2012 07 07 foggyb
2012 10 02 niko
2012 10 30 sadpandatech
2012 11 04 the joint
2012 12 01 westkybitcoins
2012 12 07 notme
2013 01 01 farfiman
2013 01 07 chsados
2013 02 13 Mageant2013 03 23 Scott J <--- looks like a winner, this now confirmed & prize sent 2013 05 05 BTCurious 2013 05 08 kilmyos 2013 05 22 Clark 2013 07 14 Koekiemonster 2013 09 07 sgbett 2013 09 12 istar 2013 12 06 waspoza 2014 01 04 indeededausername 2014 06 23 Kluge 2015 04 01 Revalin 2015 04 02 Otoh 2016 07 08 proudhon 2017 09 11 Wekkel 2017 12 12 trogdorjw73 Never - Hawkix1g Au2012 04 01 miscreanity
2012 05 03 Goat
2012 05 13 Niko
2012 06 07 foggyb
2012 06 12 cloon
2012 08 01 oOoOo
2012 08 03 sadpandatech
2012 08 10 kjlimo
2012 09 03 the joint
2012 12 07 notme
2012 12 21 Mageant
2013 01 03 Koekiemonster
2013 01 07 chsados2013 03 23 Scott J <--- looks like a winner, this now confirmed & prize sent 2013 04 13 proudhon 2013 06 10 Clark 2013 12 06 waspoza 2014 01 01 farfiman 2014 03 04 Wekkel 2014 04 01 Revalin 2014 05 03 indeededausername 2014 05 05 BTCurious 2015 05 05 Otoh 2016 09 07 sgbett 2018 06 27 trogdorjw73 Never - westkybitcoinsPrizes: 1BiLLioN Sent: Tx1GramAu1 Sent: Tx1x2wins Sent: Tx |
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Some nine things about storing some of your wealth in Bitcoins:
...
& easily convertible in to any major fiat currency from & to anywhere in the world, resistant to exchange controls or confiscation say that you want to stash some cash offshore, well offshores are getting leaned on & outed more & more, but virtual bits are the ultimate global offshore - you could even use them from off planet from your orbiting command station or Virgin voyager WiFi link also say you need to leave your country in a hurry with only the clothes on your back, no need to stuff gold doubloons down your socks your wealth awaits you where you stashed the coded private keys in the cloud this being the decade of crumbling dynastic dictatorships & outed Madofs one wonders if some might hedge their loot here too other nice things... no counterparty risk, independent of governments, banks, companies, institutions, derivatives, etc... |
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very nice, works with Safari & I like how the historical time shows in Hours & not 100's of Minutes as on MtGox live, many thanks!
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$9.86816
oh yes & if someone could be kind enough to drop in a couple of 50k walls with bid at $9.86815 & ask $9.86817 for a minute at closing time I would very much appreciate that & would of course be more than happy to share the 2 Btc prize with you - muchas gracias I wouldn't complain if he put that bid up right from now. yep but who'd want that much slippage, better to spend a couple of months gradually accumulating the Bits & moving the price nearer the target |
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