[ANN] BTC.sx - Leveraged trading made easy

[001sonkit]

Daily Funding Cost

[Seal]

Market orders are placed on MtGox, our prices are based on current bid/ask prices and are adjusted for estimated order fill price. For smaller orders, we tend to see our orders execute better then the displayed priced. For larger orders, it is close to display price, sometimes worse. This depends on market liquidity.

Thanks

One last question: what is to stop me using maximum leverage and then just buy and hold for 1 year?

Daily Funding Cost

Correct. The capital provided for leveraging the trade is subject to a daily funding cost. I need to update the FAQ with details about how this is calculated, its currently between 0.2 - 1% a day.

[monsterer]

Correct. The capital provided for leveraging the trade is subject to a daily funding cost. I need to update the FAQ with details about how this is calculated, its currently between 0.2 - 1% a day.

Ahhh, understood

[Sukrim]

The capital provided for leveraging the trade is subject to a daily funding cost. I need to update the FAQ with details about how this is calculated, its currently between 0.2 - 1% a day.

[Seal]

Thank you for all of the interest in private beta. Our demand has been unprecedented with over US$100,000 of orders placed weekly within our first few weeks of launch. We are now open to public signups.

Congrats to the traders who placed orders clocking up to 180% roi on individual positions. You know who you are. Quite a feat in the last few weeks with little trending and a lot of sideways movement.

For those on twitter, track our progress on @BTCsx

[joesmoe2012]

"password is too long must use less than 30 char"

Why?

I use 32 by default. Why not make the max like 200 just incase?

[kakobrekla]

"password is too long must use less than 30 char"

Omg. Srsly, you need someone who knows what its doing (your coders don't). Btw, I found more issues but I don't have the time to go through them (already wasted enough time with bitstamp scam). Whoever is coding that is complete idiot and a noob and should not be touching financial apps with a 10 foot pole.

[Seal]

"password is too long must use less than 30 char"

Why?

I use 32 by default. Why not make the max like 200 just incase?

Changed.

"password is too long must use less than 30 char"

Omg. Srsly, you need someone who knows what its doing (your coders don't). Btw, I found more issues but I don't have the time to go through them (already wasted enough time with bitstamp scam). Whoever is coding that is complete idiot and a noob and should not be touching financial apps with a 10 foot pole.

... karobrekla, your dislike towards btc.sx and the work I'm doing is well voiced now. I appreciate that you do not like my platform and am not asking you to use it or waste more of your time criticising it. If you would like to carry on, then feel free, but please keep it constructive for the benefit of the wider community. If it annoys you that much, then focus on driving the success of what I'm assuming is your own (competing) platform bit4x.com.

I will encourage potential users on this forum who have read your posts and criticisms of btc.sx to choose for themselves whether or not to trust in my platform or use yours.

Hundreds of users already have.

[kakobrekla]

"password is too long must use less than 30 char"

Omg. Srsly, you need someone who knows what its doing (your coders don't). Btw, I found more issues but I don't have the time to go through them (already wasted enough time with bitstamp scam). Whoever is coding that is complete idiot and a noob and should not be touching financial apps with a 10 foot pole.

... karobrekla, your dislike towards btc.sx and the work I'm doing is well voiced now. I appreciate that you do not like my platform and am not asking you to use it or waste more of your time criticising it. If you would like to carry on, then feel free, but please keep it constructive for the benefit of the wider community. If it annoys you that much, then focus on driving the success of what I'm assuming is your own (competing) platform bit4x.com.

I will encourage potential users on this forum who have read your posts and criticisms of btc.sx to choose for themselves whether or not to trust in my platform or use yours.

Hundreds of users already have.

Don't flatter yourself, btc.sx is not even close to bit4x. Get your facts straight.

[Seal]

Update:

Options to trade bitcoin, in the $1bn market are opening up fast. Here's an independent comparison of what's on offer: Bitcoin Derivatives, Liquidity and Counterparty Risk

Good job to all of our traders as over 70% of open positions are currently posting profits.

One of our traders opened the following position two days ago:

0.0002 btc/pt short @ $116.92
Deposit size 0.25 btc
Daily funding cost 0.018 btc

Currently sitting on an unrealized PnL of 0.55 btc

At over 200% profit... you're on par to have placed one of our most profitable positions to date. You know who you are.

Todays sentiment amongst our traders is heavily biased towards the short side.

Trade safe.

[MPOE-PR]

Update:

Options to trade bitcoin, in the $1bn market are opening up fast. Here's an independent comparison of what's on offer: Bitcoin Derivatives, Liquidity and Counterparty Risk

Good job to all of our traders as over 70% of open positions are currently posting profits.

One of our traders opened the following position two days ago:

0.0002 btc/pt short @ $116.92
Deposit size 0.25 btc
Daily funding cost 0.018 btc

Currently sitting on an unrealized PnL of 0.55 btc

At over 200% profit... you're on par to have placed one of our most profitable positions to date. You know who you are.

Todays sentiment amongst our traders is heavily biased towards the short side.

Trade safe.

That piece on psychologicalscammer.com is uniquely ignorant. Bitcoin derivatives is MPEx, no more, no less. 482,472 BTC traded in March. No idea where you've found five lolsites to write 5000 words about, but this is not how it's done.

Actually, if you people would be less cheeky and less stupid you wouldn't find yourselves spending your time pumping .5 BTC "profits" and ridiculous "70% success rates" while dreaming of the 1bn market other people actually have.

[capoeira]

so, what is this actually? A CFD?

can anybody tell my what the actual spread is in "$" ? This page is very unintuitive

[Seal]

BTC.sx like so many other similar services is not friendly to anyone but experinced traders. Is there any good reason for that? Put differently, you
are really ready to severly limit your possible income because of "elite" look and feel? As far as I see it, there are multiple similar "elite" websites
fighting over dozens of traders while tenths of thousands are playing SDICE or hoard BTC simply because they don't feel like gambling or messing
with inexperienced-trader-unfriendly services like BTC.sx

Pick 10 unknown people on random, let them read https://btc.sx/about.php?p=faq and you will hopefully realise the issues there. In case you feel
like such action is not required and don't feel like adjusting service to serve people, please remove the following bullshits from starting thread:

"Why?
One of our primary objectives is to see bitcoin as an economy grow. A proven catalyst to economic growth is liquidity. Allowing people the freedom
to trade as they like increases liquidity."

Feedback taken on board Bitcoin Megastore.

You are totally right that trading isn't always easy to understand. It is designed to be intuitive for those with a trading background. For those without, I would encourage you to read up about Margin Trading and CFD's before trying to understand what we do. Having a solid understanding of the mathematics behind each trade will help you make better informed trading decisions.

And to reiterate a point which you made to others. If all you want to do is bet, Satoshi Dice is as good a place as any, along with the other betting sites out there.

I'll look into getting the FAQ rewritten to be a little friendlier.

[capoeira]

It is designed to be intuitive for those with a trading background.

Ihave traded on Bitfinex and 1Broker and I find it very unintuitive.
especially that imaginary currency pair BTC/PT.


can you at least respond this question: 1% up in BTC/USD means 1% up in BTC/PT??

[Seal]

It is designed to be intuitive for those with a trading background.

especially that imaginary currency pair BTC/PT.

can you at least respond this question: 1% up in BTC/USD means 1% up in BTC/PT??

Prices in most forex trading platforms are displayed in Points or Pips. This is the price in US cents.

BTC/PT is the currency pair you are trading on.

0.01 BTC/PT is not a percentage, it means that you are placing a trade so that each 1 cent movement will produce a gain or a loss of 0.01 BTC. It might be more intuitive if read as 0.01 bitcoins per cent movement.

If the bitcoin price goes up by $1, this is a 100 pt movement. A buy position of 0.01BTC/PT size would return ~1 btc. A buy position of 0.02BTC/PT would return ~2 btc etc...

[myself]

Correct. The capital provided for leveraging the trade is subject to a daily funding cost. I need to update the FAQ with details about how this is calculated, its currently between 0.2 - 1% a day.

can the users lend and take some risk ?

also are there any plans for limit orders ?
are there any plans for stop orders ?

[Seal]

Correct. The capital provided for leveraging the trade is subject to a daily funding cost. I need to update the FAQ with details about how this is calculated, its currently between 0.2 - 1% a day.

can the users lend and take some risk ?

also are there any plans for limit orders ?
are there any plans for stop orders ?

Hi there myself. Currently I will not accept external lenders.

Advanced trading features are on my list of features to add however stop and limit orders are a lower priority for now.

[myself]

Advanced trading features are on my list of features to add however stop and limit orders are a lower priority for now.

so one should stay on the pc 24/7 in order to take profits when it reach the desired price ?

[wonkytonky]

ok.. i'm trying to get my head around this pip thing..

i took your long example from the faq.
correct me where i'm wrong and please help me where i dont understand it.

    Bet size: 0.002 BTC/pt

so i say.. here: for every pt (wich is 1 $cent so .. 0.01$) that goes up.. i want btc.sx to pay me 0.002btc
(deposit of 2 BTC required)

this is:Deposit = Size * Required Stop

The required stop is currently 1250 points. Th

in this case 0.002 btc * 1250 points?  seems not to be 2btc but it's my best guess..

    Buy Price: US$120 = 12000 points
this is 120$*100 because points are actuall $cents.

    Close price on liquidation: US$128 = 12800 points
this is 128$*100 because points are actuall $cents.

    Profit = (12000 - ((12000^2) / 12800)) * 0.002
i dont understand this calculation please fully explain.

    Profit = 1.5 BTC




other questions..
can you show us how much btc or usd is borrowd if we place an 0.002btc/pt bet?  i'm not fully understanding how leverage works here.. x100 ?
so if i place bet 0.002btc/pt.. you automatically  borrow 100 times this amount in usd if i want to go long? and on this the daily fund  is calculated?   how?

Execution Spread:  if you need to borrow btc .. where do you get it, gox??  since it apparently could be  problematic when there is " high volatility or low liquidity"  i want to know where to look to see if indeed the liquidity is low or the volatility is too high .

what is the current maximum betsize?
where do you get your current prices from?


and please make "stop order" one of your biggest priorities possible   a realy great example is the one from bitfinex.. you can move it up and down whenever you want..   with bitcoins volatility..  a few hours away from screen could be problematic...

regards

[Hfleer]

I've added this site to my list as a Forex style leveraged trading platform:
https://bitcointalk.org/index.php?topic=254574.0