RALLY!

[ElectricMucus]

At the time you guys would have said something different. It's always easy to be "wise" afterwards. Bitcoinica wasn't considered something different than regular trading, just higher spreads and leverage.

Leveraged trading underlies the same principles as any other trading and if you are comparing it to the casino the same must be true for market movements. There are people who think market movements are essentially brownian motion in which case this whole forum would be pointless.

[1714992240]

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[1714992240]

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[1714992240]

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[cypherdoc]

At the time you guys would have said something different. It's always easy to be "wise" afterwards. Bitcoinica wasn't considered something different than regular trading, just higher spreads and leverage.

surely you're not lumping me in with the "guys"?

[smoothie]

At the time you guys would have said something different. It's always easy to be "wise" afterwards. Bitcoinica wasn't considered something different than regular trading, just higher spreads and leverage.

Uhh I never even touched Bitcoinica. Cypher was all over ZT early on. So you can't say the above response. It was called out early on that the business model had problems. Hence poses much more risk to its customers/investors.

[ElectricMucus]

My point is before the default, bust, hack or whatever bitcoinca was as good a service as any. Any strategy working on bitcoinca would work equally good with mtgox just with lower spreads, lower profits but higher frequency.

If you had severe doubts about their business model good for you. But don't mind me asking where are your predictions....

[cypherdoc]

My point is before the default, bust, hack or whatever bitcoinca was as good a service as any. Any strategy working on bitcoinca would work equally good with mtgox just with lower spreads, lower profits but higher frequency.

If you had severe doubts about their business model good for you. But don't mind me asking where are your predictions....

go back and read my post from my Gold Thread about Bitcoinica.  Zhou was having all sorts of problems with his algo that he kept changing, apologizing for, and refunding for.  it was nowhere near as stable as mtgox (and we know how stable they've been!)

[Vladimir]

.40$ spread on gox right now
and it is trading as if someone is going after Knight's accolades

Edit: LOL, it must be Knight Capital decided to relocate their bots from NYSE to GOX.

[Gyrsur]

My point is before the default, bust, hack or whatever bitcoinca was as good a service as any. Any strategy working on bitcoinca would work equally good with mtgox just with lower spreads, lower profits but higher frequency.

If you had severe doubts about their business model good for you. But don't mind me asking where are your predictions....

go back and read my post from my Gold Thread about Bitcoinica.  Zhou was having all sorts of problems with his algo that he kept changing, apologizing for, and refunding for.  it was nowhere near as stable as mtgox (and we know how stable they've been!)

please can you post the link of the "Gold Thread about Bitcoinica". i missed it. thanks!

[smoothie]

My point is before the default, bust, hack or whatever bitcoinca was as good a service as any. Any strategy working on bitcoinca would work equally good with mtgox just with lower spreads, lower profits but higher frequency.

If you had severe doubts about their business model good for you. But don't mind me asking where are your predictions....

I never claimed to have made predictions. But because I understand how leverage works I decided to stay far far away....

[Vladimir]

told ya so

and it is just the beginning of the beginning.

[SgtSpike]

Rally?

[oakpacific]

Rally?

I guuess when the real thing comes nobody would bother to bump this thread.

[molecular]

"it is different this time" is often heard during speculative opportunities. stereotypical statement for sure.

That's not what I meant.  My point is that the June 2011 event was indeed a bubble and that the current rally is a different event altogether.  I'm not saying that is it not a bubble.  It could well be major bubble #2. Let's see a year from now.

Or... the June 2011 bubble wasn't a bubble at all, but simply the kind of drop you would expect when the exchange through which 90% of all BTC transactions are made is compromised.

Except that the top was long passed once gox got hacked and right after the gox hack, there was no sharp drop. In other words: the bubble popped before the gox hack.

[Piper67]

"it is different this time" is often heard during speculative opportunities. stereotypical statement for sure.

That's not what I meant.  My point is that the June 2011 event was indeed a bubble and that the current rally is a different event altogether.  I'm not saying that is it not a bubble.  It could well be major bubble #2. Let's see a year from now.

Or... the June 2011 bubble wasn't a bubble at all, but simply the kind of drop you would expect when the exchange through which 90% of all BTC transactions are made is compromised.

Except that the top was long passed once gox got hacked and right after the gox hack, there was no sharp drop. In other words: the bubble popped before the gox hack.

Yeah, except Gox trading was shut down for weeks after the hack. Any idea what would happen to the USD is someone hacked the New York Stock Exchange and forced all trading to stop for a day, let alone a week?

[anu]

Yeah, except Gox trading was shut down for weeks after the hack. Any idea what would happen to the USD is someone hacked the New York Stock Exchange and forced all trading to stop for a day, let alone a week?

I expect they get hacked quite often - considering how many IT guys work in such settings and how the security is there. It's just that nobody who hacks these systems would be so stupid and sell all stock. For example I'd be very much surprised if no programmer of arbitrage bots of banks are running their own arbitrage bot as slave.

[mobodick]

I whish there was a rally...
I'm bored without it...
 

[bitarrow]

I whish there was a rally...
I'm bored without it...
 

forget the rally, time to double your coins 

[mobodick]

I whish there was a rally...
I'm bored without it...
 

forget the rally, time to double your coins 

Well, i say FIRST have another rally, then tripple your coins.
But hey, who am i to call for such things..

[elux]

I whish there was a rally...
I'm bored without it...
 

[OgNasty]

That was quite a bounce.  $0.98 in a matter of seconds.

[mobodick]

I whish there was a rally...
I'm bored without it...