Credited. Thank you!

Credited. Thank you!

Mt. Gox has been ignoring us as well. We have lifted our main account's withdrawal limit, but the activation of yubikey breaks the Withdraw API. There's not enough documentation on how to use API key-secret authentication in Ruby (and worst, the ruby gem we use doesn't support it).

The required government IDs and address proofs have already been sent two weeks ago, for lifting the limits for another account. They didn't reply a single word.

Bitcoinica's main Mt. Gox account has hedged over 200,000 BTC in only 2 weeks (about 1/5 of Mt. Gox total volume).

It's troubling that they ignore one of their biggest customers (if not the biggest).

That's not true. We have many customers making more than 100% on a single day. (We hope someone can voluntarily post their positions on the forum, because we can't disclose any customer information.)

I'm not supposed to give any detailed trading advice. But here's the general idea for any trading activity:

- Never let forced liquidation be your stop loss orders.
- Control your position carefully and always follow the market trend. (It's easier to follow the trend than to catch the top/bottom.)
- Swap your position intelligently. Change your mind quickly.
- Avoid placing orders when the spread is too large.
- Set your limit/stop orders based on technical support/resistance, and remember to place multiple limit/stop orders with different prices to avoid occasional slippage. (You don't want to close all your position when the price is just 1 cent below the support.)
- Use the intelligent trailing stop orders to earn profits and cut losses using a single order, and prevent reversal in market trend when you sleep.

Generally, traders who are able to utilize all Bitcoinica's features can earn much more on Bitcoinica than on Mt. Gox.

We're always glad to have profitable traders because we hedge their positions at the market as well. That'll be a win-win.

Yes! I have credited you.

Some customers had very nice short positions just now. Profiting!

Thank you for letting me know. I knew that someone else could be doing the similar things.

I'm not exactly focusing on technical and philosophical aspects, basically the purpose of the book is to introduce Bitcoin to newbies, and present the revolutionary currency to them in an interesting way. If you want to target existing Bitcoin users, business will be a great way to go - Bitcoin needs more entrepreneurs. Either way is perfectly fine.

That's a good idea, but as I said, we have Wiki, but it doesn't help much in terms of content quality.

Reading a book should be an enjoyable process, so appreciating the author's writing style is quite important. The reason why I won't release the book before 50% progress is that the foundation must be good enough, with careful content design.

The best stuff (books or software) is almost always proprietary. Most open source projects are not newbie-friendly either.

I don't think we need initiators for.different kinds of projects that much, instead, we need people like Satoshi who can do a big thing on their own elegantly.

Of course I can check, but checking doesn't guarantee uniqueness. Our coins are unique because of P2P, but physical bitcoins can't be connected.

When I accept a physical bitcoin, I need to make sure no one else has it. If the OP can get the hologram for 0.15 BTC, I can take over the company the makes the hologram and do the same too.

What if I'm a major merchant and I duplicate all the coins I accepted and save them secretly and only spend the duplicated ones? Then maybe I can redeem them all at once.

I don't have to be the issuer to be the Grand Theft, as long as I can manufacture myself without anyone else knowing.

The problem is not whether it'll eventually get caught. If I accept your physical bitcoin in an exchange for goods and services, I have to make sure that it's 100% unique if I'm not going to redeem it right away.

If I have to redeem it to make sure I can get the value, then there's no reason to make holograms - you can just print out the keys.

So, the problem lies on whether you can make sure that you can get the 1 BTC after 10 years without the use of P2P.

A good idea, but there's one vulnerability of any physical Bitcoin that exists today - possibility of duplication. The public keys displayed can ensure that the money itself is backed by some Bitcoins, but before redemption, no one really knows whether there are the second piece of money that has the same public key.

Although holograms are hard to make, but it's not entirely impossible to duplicate. For fiat money, government controls most of the technologies to manufacture paper money, and to some extent, this control is quite effective.

One thing about crypto currency is that it can be easily duplicated and spent twice, and Bitcoin solved the problem perfectly, through P2P networks.

I wonder if there's any potential for a physical form of Bitcoin that can utilize the P2P network effectively by itself? Or other ways that can effectively reduce or eliminate the problem of double spending attacks on physical Bitcoins?

http://webcache.googleusercontent.com/search?q=cache:eYz_H6yQVmgJ:https://www.bitcoinica.com/pages/faq+bitcoinica+FAQ&cd=1&hl=en&ct=clnk&gl=sg

Google Cache: It is a snapshot of the page as it appeared on 22 Sep 2011 12:26:51 GMT.

Nothing has changed.

Thank you for the idea about the proof.

So, to OP: False accusation detected. Possible attempt of defamation. Apology is demanded.

Thank you!

Yes, I'm an Economics student, and I'm also a Rails developer, a trading enthusiast and a Libertarian Anarchist. I'm never like a journalist. I worry more about the boredom when I talk about too many things rather than the lack of scope of understanding.

If I finally decide to start the first page, I will start the Beta Book program after I have completed at least 50%. (Copyright license hasn't been decided yet, but it may be proprietary if the publisher requires so.) I'm not sure about the price, but I'm thinking about 5-8 BTC for the beta book which will include the final paperback edition. (Reviewers get the same price, but can access to the content earlier.) The price will only be used to offset the cost of publishing and some of my personal expenditures related to writing the book. If there's excess, I will gather ideas from everyone about what to do with them.

One worry is about the publishing. In order to reach out to more people, a publisher may be required (like Wiley). But I'm not sure about the the details.

Anyway, I'm completely open to the idea of open sourcing the book and making it freely available if publishing is an issue.

You're right. Bitcoin is an open community that accepts new ideas.

However, every needs a start. The difficulty of "joining the conversation" is keeping many newbies out of the real Bitcoin community.

I want a revolutionary way that helps them to understand the basics about Bitcoin *all at once*, instead of keeping ask questions that no one wish to answer. I'm helping them to find answers themselves. That's why it's a book, not a blog or forum post.

I will credit those who help, but the nature of my work doesn't require much of collaboration within the community. Because they are going to find their own answers anyway. I don't have to teach them how to build a mining rig or Bitcoin exchange, I just have to let them understand why Bitcoin is an idea worth spreading, and how Bitcoin works to solve some of our banking problems - these are personal understanding and general knowledge, not necessarily experience of many other people.

I'm not qualified professionally I admit, but I do have a wide scope of understanding - I think the community needs someone who knows Bitcoin fairly well in different perspectives (philosophical, economic, financial, cryptographic and political) to give the project a start. There may be experts around, but most likely they are not that newbie-friendly. Potential Bitcoiners are curious, but unfortunately some of our forum members are destroying their curiosity - we need to know what they want to know, before they lose their interest.

This book project should more practically a personal project. We have Bitcoin Wiki that every can contribute, but again, it's not that newbie-friendly. That's why I'm asking for ideas and feedback, not actual contribution on the content. I will do thorough research before claiming anything in the book, and I will publish some content (especially more controversial parts) on the Internet to generate comments and debates - and I will credit anyone who has ever helped.

Thank you for your feedback!

Thank you. I just want to find a comfortable way to contribute. I will definitely publish chapters of chapters of work on this forum and enable discussion, and take the points of other commenters can credit them accordingly. It's just that I don't have the time and space to consolidate what I know about Bitcoin. (I do chat with many members in this forum on Skype, about the market, economics, political implications and even philosophy, so don't worry, I'm not that kind of person who doesn't know anything but wants to do everything.)

I choose to write a book because I can't concentrate on coding all the time (it's highly stressful). Doing something else can help me relax a bit, and reduce probability of making mistakes in my code as well.

I won't be the only author, I guess. At least I have a friend to help me proofread. (He's quite established in the forum.)

That said, big things at Bitcoinica will come along. Thank you for your suggestion!

I didn't change the FAQ since last week.

You didn't read it.

Apology demanded.

Why do I must qualify something to contribute? I don't have the habit to post on forums. Posting about Bitcoinica is because that's the only way I can keep connected to my clients.

I prefer writing a book and let people calm down and enjoy. I don't want to argue with trolls just to gain the qualification.

I'm not asking you for anything, why do I need qualification?

Before I launched Bitcoinica, I was not qualified to build a trading platform that the big guys can't deliver in months?

I

I'm not sure if I will have the caliber. But beta book works very well:


Microsoft can sell beta OS for the same price if that includes the final version. It's just that they're not doing that.

If I have finished the book, I will release beta version for sale. Beta version includes the ebook and final paperback. There're two benefits:

1. Beta version can help me make changes or improve content.
2. Beta sales can collect funds for printing.

The prices for beta books and final books will be the same. So perhaps those who want to read the ebook can get them earlier, and maybe give the paperback books to their friends as gifts when they arrive.

Hmmm... My thinking is a bit different. Tell me if I'm wrong.

The theory part *is* the high-level overview. It's like the introduction of cryptography for a complete newbie. I'm not even going to write about the technical details because they can be found on the Bitcoin Wiki, or simply everywhere on the Internet.

I love explaining things in examples, so perhaps the Part I will be full of examples to help the reader understand how Bitcoin (the project, the software, the market) works.

Is this what you expect to read about?