Bitcoinica - Advanced Bitcoin Trading Platform

[istar]

99.9% A fraud in my book.

I might use your service in one or two years if you are still here by that time.

[nrd525]

A confirmation button might be nice.  I just accidently hit the "BUY" button and bought 1 BTC.  I wanted to hit the Place Order button. 

That cost me $0.12.

[nrd525]

Weird. It actually placed TWO orders. So I accidently bought 2 BTC (one 3 minutes ago, and one 5 minutes ago).

[nrd525]

Small complaint - the order form should validate (ex. Jquery has a nice validation plugin) to require a minimum of 0.02 BTC for trades, or it should at least say the minimum values in the form.

I was using the order form, so I didn't seen the minimum 0.02 btc which only appears next to the main BUY/SELL buttons.  I wanted to try it out with a small value and was confused when my 0.01 order showed up as invalid.

[fcmatt]

Wow, I quoted the wrong thing entirely... 

I meant to ask for automatic updating of the P/L bar if possible to avoid refreshing the whole page over and over.

I agree. This would be nice.

[WiseOldOwl]

There needs to be some sort of "are you sure?" before the order is placed.
Slow connections = click twice = 50 BTC Buy on Accident.
Or like gox have a input box and when you hit submit the text dissapears.
this is from memory, could be wrong.

[fcmatt]

There needs to be some sort of "are you sure?" before the order is placed.
Slow connections = click twice = 50 BTC Buy on Accident.
Or like gox have a input box and when you hit submit the text dissapears.
this is from memory, could be wrong.

My main concern is something along those same lines. When i want to sell, what price am
I really selling at? Sure I can see the spreads but by the time I actually do it the market could
have changed drastically. A nice "are you sure and here is the BTC price right this very second"
would be cool.

[nrd525]

It might be useful to have a parallel market where you could trade with fake money (give everyone $100 or $1000). Trades would be done at the regular MtGox prices - you just wouldn't move the market price

It would be useful for people who are new to options.  It'd also be great for testing of usability, load testing, etc.

It could also be fun - a way for people to play the market without risking money.

If you did this, you might want to provide a very high limit on the number of fake accounts and/or the frequency of trading to avoid overwhelming your server.

Maybe you already have this setup on your local computer to do testing?  That is what I'd do.

[speeder]

I want some transaction reversals...



I had a open short position of -80

Then I put 30 BTC on it from mtgox...

Then I tried to liquidate those 30, and got a short of -30 instead on the -80 (thus went to -110)

So, I tried to instead liquidate those -110 even knowing that I would get a stupid loss...

But instead, the long position of 30 got more bitcoins added to it...

Then I made some more attempts to liquidate both, without success...

Can you PLEASE reverse all that? It is idiotic... your site is eating my money with the spread because of a VERY IDIOTIC bug. (or at least, the lack of a system to define what position you want to work on).


Pic as proof (note the bizarre values):



Uploaded with ImageShack.us

[zhoutong]

I want some transaction reversals...



I had a open short position of -80

Then I put 30 BTC on it from mtgox...

Then I tried to liquidate those 30, and got a short of -30 instead on the -80 (thus went to -110)

So, I tried to instead liquidate those -110 even knowing that I would get a stupid loss...

But instead, the long position of 30 got more bitcoins added to it...

Then I made some more attempts to liquidate both, without success...

Can you PLEASE reverse all that? It is idiotic... your site is eating my money with the spread because of a VERY IDIOTIC bug. (or at least, the lack of a system to define what position you want to work on).


Pic as proof (note the bizarre values):



Uploaded with ImageShack.us

I apologize for this error. This happens to any customer who deposits using Mt. Gox BTC code when they have a short position.

Initially we didn't support BTC deposits, and designed the system the way that it only processes USD. We will push an update soon to separate USD and BTC accounts to address this issue. We will also enable Bitcoin deposits and withdrawals (yes, wallet address!).

I have already nullified your position. You don't have to be responsible for any losses incurred because of these trades. All your Bitcoins deposited are converted into your margin balance according to the instant rate when you deposit them.

I have also added $20 to your account at the expense of myself, just to say sorry!

Thank you for being a supportive customer!

[speeder]

Thanks

[macbook-air]

The day before yesterday, I had $2500 in my account, couldn't withdraw. So I decided to set up a buy order of 2000 BTC at 5.17, and put a stop order at 4.99, and then went to sleep.

After waking up the next day, I saw it was sold not at 4.99, but 4.44, my balance was less than $1000, a lose of nearly $2000!

Yesterday, I still could't withdraw much, so I set up a buy order of 1000 BTC before going to sleep, but it was forced liquidated! And my balance was at $-950, and it says my balance was dangerous low and asks me to deposit, a lose of nearly $2000 more!

Today, after waking up, I can't access my account of $-950, access denied!

I lost around $3500 in two days!

BAD!

[netrin]

Hello Zhou Tong,

I deposited BTC into bitcoinica and would like to withdraw BTC. However, it asks for a $ amount. I don't want 99% of my money, I would like 100% of my BTC. Can you offer this through Mt. Gox credits? Perhaps:

Code:

Amount to withdraw: $99999

I'm sorry you only have $123.456789 would you like to withdraw all of it? [Yes] [No]

EDIT: No, scratch that. I want BTC, not MGoxUSD at arbitrary rates.

Code:

Amount to withdraw: [_________]  [BTC]  [USD]

[fcmatt]

The day before yesterday, I had $2500 in my account, couldn't withdraw. So I decided to set up a buy order of 2000 BTC at 5.17, and put a stop order at 4.99, and then went to sleep.

After waking up the next day, I saw it was sold not at 4.99, but 4.44, my balance was less than $1000, a lose of nearly $2000!

Yesterday, I still could't withdraw much, so I set up a buy order of 1000 BTC before going to sleep, but it was forced liquidated! And my balance was at $-950, and it says my balance was dangerous low and asks me to deposit, a lose of nearly $2000 more!

Today, after waking up, I can't access my account of $-950, access denied!

I lost around $3500 in two days!

BAD!

It sounds like the sale of 20K BTC at once in a lightning sale caused your stop order to fail to function right
because the system could not sell it in time. It sold when it could.. which was after the 20K sale nailed things
down to 4.44. Pretty predictable actually and bound to happen. We discussed it briefly in the spec forum.

The other part I am not sure about. As for no access that is also worrisome.

[macbook-air]

The day before yesterday, I had $2500 in my account, couldn't withdraw. So I decided to set up a buy order of 2000 BTC at 5.17, and put a stop order at 4.99, and then went to sleep.

After waking up the next day, I saw it was sold not at 4.99, but 4.44, my balance was less than $1000, a lose of nearly $2000!

Yesterday, I still could't withdraw much, so I set up a buy order of 1000 BTC before going to sleep, but it was forced liquidated! And my balance was at $-950, and it says my balance was dangerous low and asks me to deposit, a lose of nearly $2000 more!

Today, after waking up, I can't access my account of $-950, access denied!

I lost around $3500 in two days!

BAD!

It sounds like the sale of 20K BTC at once in a lightning sale caused your stop order to fail to function right
because the system could not sell it in time. It sold when it could.. which was after the 20K sale nailed things
down to 4.44. Pretty predictable actually and bound to happen. We discussed it briefly in the spec forum.

The other part I am not sure about. As for no access that is also worrisome.

It should wait until the market became stable before selling that much of coins. The decision of selling it at the lowest historical price is the failure of the system. It was my fortune it was not the guy who dump his coins at $0.01.

[zhoutong]

Hello Zhou Tong,

I deposited BTC into bitcoinica and would like to withdraw BTC. However, it asks for a $ amount. I don't want 99% of my money, I would like 100% of my BTC. Can you offer this through Mt. Gox credits? Perhaps:

Code:

Amount to withdraw: $99999

I'm sorry you only have $123.456789 would you like to withdraw all of it? [Yes] [No]

EDIT: No, scratch that. I want BTC, not MGoxUSD at arbitrary rates.

Code:

Amount to withdraw: [_________]  [BTC]  [USD]

Currently we only support USD. However, BTC withdrawals will be announced soon.

[zhoutong]

The day before yesterday, I had $2500 in my account, couldn't withdraw. So I decided to set up a buy order of 2000 BTC at 5.17, and put a stop order at 4.99, and then went to sleep.

After waking up the next day, I saw it was sold not at 4.99, but 4.44, my balance was less than $1000, a lose of nearly $2000!

Yesterday, I still could't withdraw much, so I set up a buy order of 1000 BTC before going to sleep, but it was forced liquidated! And my balance was at $-950, and it says my balance was dangerous low and asks me to deposit, a lose of nearly $2000 more!

Today, after waking up, I can't access my account of $-950, access denied!

I lost around $3500 in two days!

BAD!

We have blocked your account due to malicious attempt to control prices.

Most of the execution occurs 3 minutes after the placement of your limit orders, and then the spread narrows for a few seconds for your limit orders to be executed. It seems that you have placed a large amount of fake bids or asks to control the prices on Bitcoinica. This has caused huge price fluctuation on Bitcoinica even when Mt. Gox's market is stable.

Our system has detected a lot of orders from your account are not possible to execute in the market within the tolerable price ranges. The same thing does not happen from other customers.

This malicious trading behavior has caused a large financial loss for Bitcoinica and our customers. It has also caused a sustained large spread.

We have already fixed our algorithm to make sure the orders are executable at market before we process limit orders. As our guarantee of 50 BTC liquidity, any orders under 50 BTC will not be affected by this change.

The spread at Bitcoinica is also lowered after blocking this account.

In order to protect other Bitcoinica traders from the unexpected and huge fluctuations, we have decided to permanently suspend your account. Your account balance was negative when closed.

[tvbcof]

Today, after waking up, I can't access my account of $-950, access denied!
...
I lost around $3500 in two days!

We have blocked your account due to malicious attempt to control prices.
...
In order to protect other Bitcoinica traders from the unexpected and huge fluctuations, we have decided to permanently suspend your account. Your account balance was negative when closed.

To quote Nelson from The Simpsons:  "Ha ha".

I am looking forward to macbook-air coming back here and whining like a baby.

[hightax]

We have blocked your account due to malicious attempt to control prices.

Who are you to dictate who can and cannot trade?  Who died and made you king of bitcoin?

[macbook-air]

Today, after waking up, I can't access my account of $-950, access denied!
...
I lost around $3500 in two days!

We have blocked your account due to malicious attempt to control prices.
...
In order to protect other Bitcoinica traders from the unexpected and huge fluctuations, we have decided to permanently suspend your account. Your account balance was negative when closed.

To quote Nelson from The Simpsons:  "Ha ha".

I am looking forward to macbook-air coming back here and whining like a baby.

I won't whining like a baby as my balance was already "negative".

It was too easy to make money if you have at least a few hundred coins to "control prices". With a simple python script I can double my balance in minutes. It must be the fault of the system, not the fault of the users. I hope you fix your website since I think it is great, and I would like to come back and do some real trades in the future.

希望周总见谅。