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1121
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Economy / Speculation / Re: Bitcoinica Documentation Suggestions
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on: January 18, 2012, 02:48:48 PM
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Can red flag events and Zhou's claim of guaranteed liquidity both exist?
Red flag - one-sided guaranteed liquidity Normal - full guaranteed liquidity If you have a short position when no buying red flag happens - full guaranteed liquidity If you have a long position when no selling red flag happens - full guaranteed liquidity I had a long position recently when the red flag was on the buy button. I was sad that I couldn't buy more BTC at a price lower than my base price. Is this not a valid concern or problem for your guaranteed liquidity? Thank you for trying to answer, its entirely possible I just dont understand some of the vocabulary. But they can't pull more money out of thin air. If they are out of money, they are out of money. And they need to keep some reserves to make sure shorts are still allowed to close their positions. That's why the red-flag sometimes prevents guaranteed liquidity on one side. Being out of money on a guaranteed liquidity site is an oxymoron. Right? |
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1122
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Economy / Speculation / Re: Bitcoinica Documentation Suggestions
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on: January 18, 2012, 02:45:23 PM
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Can red flag events and Zhou's claim of guaranteed liquidity both exist?
Red flag - one-sided guaranteed liquidity Normal - full guaranteed liquidity If you have a short position when no buying red flag happens - full guaranteed liquidity If you have a long position when no selling red flag happens - full guaranteed liquidity I had a long position recently when the red flag was on the buy button. I was sad that I couldn't buy more BTC at a price lower than my base price. Is this not a valid concern or problem for your guaranteed liquidity? Thank you for trying to answer, its entirely possible I just dont understand some of the vocabulary. |
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1125
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Economy / Speculation / Re: Bitcoinica
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on: January 18, 2012, 02:18:56 AM
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Zhou, 1 thing I would suggest for your site: lots and lots and LOTS of clear documentation. When I trade on TD Ameritrade I have a whole exhaustive documentation section that breaks down the fees and math into plain english that real people can understand. When you're a business making money, it's sort of incumbent on you to help your users understand what's going on.
+9001 |
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1126
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Economy / Speculation / Re: Bitcoinica
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on: January 18, 2012, 02:17:10 AM
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It's more of personal trading behaviors.
I agree that we should take more responsibility in making Bitcoin a better currency, so we will take several actions in the following days to minimize our negative market impact during volatile times.
But generally, I disagree with your statement. Bitcoinica didn't start the spikes, someone else did. Bitcoin is very financially vulnerable at the moment and we need more options for traders to build a strong financial system.
Yes, there are those who like the gambling and others who prefer investing. And the people with the appropriate funds also are quite fond of tricking your system to enrich themselves. Thanks for acknowledging that. So, because Bitcoin is vulnerable due to low market cap and illiquidity we need more leverage, derivatives and anything but a real market? Bitcoinica is pushing the exchanges to do better. We didn't even have a partnership with Mt. Gox. So we are totally open in terms of exchange options. Maybe offer to buy Gox out? They dont have enough money to let me buy with the leverage options they give me... |
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1127
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Economy / Speculation / Re: The Dreaded Double **
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on: January 18, 2012, 01:57:46 AM
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15 seconds AT MOST.
The * has been on one side or the other EASILY 66% of the time over the LAST 2 DAYS. That's because of reserve problems, not connection. We're considering getting short-term loans when this is happening, but it will take a while before we solve the compliance problems. Why do you have reserve problems? Why are you not making tons of money? Hearing plans for loans is good but they shouldnt be necessary. |
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1134
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Economy / Speculation / Re: Who is it?
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on: January 18, 2012, 12:02:22 AM
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the dreaded double ** keeps popping up. what the hell does that mean?
Someone said that happens when bitcoinica cant make a good connection to Gox's api. But who knows because Zhou doesnt answer questions or explain his site on his site. |
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1135
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Economy / Speculation / Re: mtgox unresponsive...
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on: January 17, 2012, 11:13:10 PM
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How much money do they make in trades again? Can any other exchanges demonstrate that they can handle 5000 people trading and looking at live data? Seriously?
People don't take their business elsewhere. Apparently Gox is the best game in town. Bitcoin is young and has a long way to go. I am asking if someone else could demonstrate it. As in show evidence that they can handle the users. People will flock to them just for the live data stream that doesnt go down during ANYTHING INTERESTING, but they would have to prove it first. My point is how can they prove it when the users don't leave the big volume exchange? You can simulate traffic |
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1136
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Economy / Speculation / Re: mtgox unresponsive...
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on: January 17, 2012, 11:11:29 PM
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How much money do they make in trades again? Can any other exchanges demonstrate that they can handle 5000 people trading and looking at live data? Seriously?
People don't take their business elsewhere. Apparently Gox is the best game in town. Bitcoin is young and has a long way to go. I am asking if someone else could demonstrate it. As in show evidence that they can handle the users. People will flock to them just for the live data stream that doesnt go down during ANYTHING INTERESTING, but they would have to prove it first. |
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1137
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Economy / Speculation / Re: mtgox unresponsive...
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on: January 17, 2012, 11:07:41 PM
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How much money do they make in trades again? Can any other exchanges demonstrate that they can handle 5000 people trading and looking at live data? Seriously?
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1138
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Economy / Speculation / Re: FUCK THIS
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on: January 17, 2012, 10:56:36 PM
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Lets all remember to be pissed of at MtGox for their terrible API/sockets too!
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1139
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Economy / Speculation / Re: RALLY!
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on: January 17, 2012, 10:50:16 PM
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And... just lost the 5 BTC I was playing with on margin!  I wonder how many bitcoinica users are in the exact same situation and will never return to bitcoinica? |
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1140
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Economy / Speculation / Re: Here we go!
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on: January 17, 2012, 10:45:00 PM
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Also, what we're now seeing is because of bitcoinica. Well done Z.
It was done on bitcoinica... Asterisk has swung to sell, so this drop was leveraged down. Someone with money saw that bitcoinica users were heavily leveraged long because of the two straight days of fucking * on the buy. Squeezed the longs. These things will happen in the wild west with tools that dont work. Guaranteed Liquidity my ass! SELL ▲*5.27678 BUY ▲*5.75655 |
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