2012-04-21 Forbes - Bitcoinica Registers in New Zealand for Bitcoin Margin Tra

[Stephen Gornick]

Jon Matonis' latest in Forbes:

Bitcoinica Registers in New Zealand for Bitcoin Margin Trading
 - http://www.forbes.com/sites/jonmatonis/2012/04/21/bitcoinica-registers-in-new-zealand-for-bitcoin-margin-trading

First of all, anyone can trade — with just $1 or ฿1. As with forex trading, there is no commission — only the bid/ask spread. Customers place buy or sell orders with a leverage variable selected anywhere from none to a factor of 10:1.

I sure hope people not already familiar with FOREX will understand that bitcoin exchange rate volatility + leveraged trading = getting zhoutonged
  (zhoutonged described here: http://www.youtube.com/watch?v=kdvTkddp1F0  lyrics are not necessarily safe for work)

[World]

Bam Bam Dilla ...:-)
any video tutorial or written manual how to use?

[Stephen Gornick]

Also you can use bitcoinica like this:

1.  Log in to your bitcoinica account.
2.  Drive to your bank.
3.  Withdraw some money.
4.  Burn it.
5.  Drive home.
6.  Log off bitcoinica.

- http://bitcointalk.org/index.php?topic=73386.msg814748#msg814748


The "How Bitcoinica Works" thread:

 - http://bitcointalk.org/index.php?topic=55970.0

[matonis]

Remember, someone is happily coming up a winner and getting the money, because it's a zero-sum game like the futures market. If Zhou is taking the other side of the trades, then he better win more than he loses. I don't fault the operator unless he fails to deliver.

I agree that most people might be happier if they just had a big party with their trading funds. You know the way to make a million dollars in margin trading? --- first you make $2 million then lose half.