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Author Topic: Bitcoinica - 15169.57 BTC Traded in the last 24 hours  (Read 4278 times)
zhoutong
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September 12, 2011, 11:08:36 AM
 #21

"© 2011 xWaylab Inc."

How can a 17 year old incorporate a company?

My registered agent didn't mention anything about age requirement, mainly because registration in Delaware is anonymous.

Also, I'm not the only shareholder of the company. But I'm the only one responsible for Bitcoinica development.

Founder of NameTerrific (https://www.nameterrific.com/). Co-founder of CoinJar (https://coinjar.io/)

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September 12, 2011, 11:10:34 AM
 #22

I think most people don't trust Bitcoinica if they (he) don't publish more company details/contact infos.

We are applying for Extended Validation SSL certificates, so that everyone can verify our company information.

Everything is in process right now. As you know, there are a lot of validation processes and checks, it takes time to have everything up. The real
world is very different from the Bitcoin world.

So far Bitcoinica's trading performance is extremely good and we will definitely be more transparent in the future.

Founder of NameTerrific (https://www.nameterrific.com/). Co-founder of CoinJar (https://coinjar.io/)

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September 12, 2011, 11:13:08 AM
 #23

Allthough a newcomer on the market, -third place earns you serious respect. We welcome you to the bitcoin scene.

Thus, I've added support for push-based ticker notifications on the Android platform through the BTC Push Monitor app.

The app is totally free, as well as ad-free, and can be downloaded here: https://market.android.com/details?id=no.skjervold

For you guys who allready use the app, -no need to update the app through market, all necessary changes were done on the server.

Cheers,
Eflite
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September 12, 2011, 01:23:07 PM
 #24

Please take his numbers with a bit of caution.

I will note that bitcoinica has ~550 users as of this post.
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September 12, 2011, 01:49:21 PM
 #25

"Third Largest", especially in volume traded, really doesn't mean much.  Two or more of the owners could set up accounts and move bitcoins back and forth, commission free.

I'm into creating universes, smiting people, writing holy books and listening to prayers.
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zhoutong
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September 12, 2011, 02:26:13 PM
 #26

"Third Largest", especially in volume traded, really doesn't mean much.  Two or more of the owners could set up accounts and move bitcoins back and forth, commission free.

Owners' trades are not counted.

We didn't think this really mean much. But we just want to thank our customers for the active support.

There's no reason for self-deception when we're clear what are we making.

Founder of NameTerrific (https://www.nameterrific.com/). Co-founder of CoinJar (https://coinjar.io/)

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zhoutong
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September 12, 2011, 02:29:38 PM
 #27

Please take his numbers with a bit of caution.

I will note that bitcoinica has ~550 users as of this post.

Your number is right.

Margin trading really did increase transaction volume by multiple times.

We also have a much higher paid customers ratio because we allow instant deposit/withdrawal via Mt. Gox code.

We have no reason to make up the numbers ourselves. You can go around and ask people who signed up for Bitcoinica and ask them how much they are trading.

Founder of NameTerrific (https://www.nameterrific.com/). Co-founder of CoinJar (https://coinjar.io/)

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September 12, 2011, 03:13:14 PM
 #28

We have no reason to make up the numbers ourselves.

You don't?  Do you realize if no one is trading on your exchange, it will not attract new users?

If you make up large numbers it would encourage others to join and trade, as an alternative to MTGox.

I'm into creating universes, smiting people, writing holy books and listening to prayers.
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September 12, 2011, 03:20:59 PM
 #29

We have no reason to make up the numbers ourselves.

You don't?  Do you realize if no one is trading on your exchange, it will not attract new users?

If you make up large numbers it would encourage others to join and trade, as an alternative to MTGox.

His place is not a exchange and he acts as a market marker.
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September 12, 2011, 07:11:57 PM
 #30

I am one of the larger/largest trader(s) on Bitcoinica. I like the service, you can short sell and you can leverage, the Bitcoin community needs this. I think I alone when I counted had around 1/3 of the volume on the number he quoted for the past 24 hours, so his is probably not lying when it comes to the trading volume.
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September 12, 2011, 07:17:16 PM
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Zhou Tong, I sent you an email yesterday, so I am waiting for a response.
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September 12, 2011, 07:17:24 PM
 #32

I'll be watching this, I really want there to be a good alternative to MTGox (Tradehill is not the answer - they won't allow a look inside their transactions to accurately gauge market depth). I just took all of my holding out of Mt.Gox until another suitable spot opens that is more trustworthy, not as shady, and doesn't deal with scammers.
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September 12, 2011, 07:30:56 PM
 #33

I'll be watching this, I really want there to be a good alternative to MTGox

Bitcoinica uses MtGox. They are not an exchange.
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September 12, 2011, 07:40:35 PM
 #34

I'll be watching this, I really want there to be a good alternative to MTGox

Bitcoinica uses MtGox. They are not an exchange.

that's what bugs me... why do they use a potential competitor as their wallet?


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September 12, 2011, 07:43:54 PM
 #35

I'll be watching this, I really want there to be a good alternative to MTGox

Bitcoinica uses MtGox. They are not an exchange.

that's what bugs me... why do they use a potential competitor as their wallet?

Because MtGox is not a competitor. As me and nmat said before Bitcoinica is not an exchange.
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September 12, 2011, 08:24:54 PM
 #36

When will the issue with withdrawals be fixed?

I have been unable to withdraw my funds out of bitcoinica for 12 hours.

Thanks!

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zhoutong
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September 12, 2011, 10:45:58 PM
 #37

When will the issue with withdrawals be fixed?

I have been unable to withdraw my funds out of bitcoinica for 12 hours.

Thanks!

It has already been fixed. Make sure you don't withdraw your whole balance at once. Because your balanced may be rounded up and you won't have enough for withdrawal.

Thanks!

Founder of NameTerrific (https://www.nameterrific.com/). Co-founder of CoinJar (https://coinjar.io/)

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zhoutong
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September 12, 2011, 10:48:15 PM
 #38

I'll be watching this, I really want there to be a good alternative to MTGox

Bitcoinica uses MtGox. They are not an exchange.

that's what bugs me... why do they use a potential competitor as their wallet?



Don't worry, I will contact you soon.

;-)

Founder of NameTerrific (https://www.nameterrific.com/). Co-founder of CoinJar (https://coinjar.io/)

Donations for my future Bitcoin projects: 19Uk3tiD5XkBcmHyQYhJxp9QHoub7RosVb
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September 13, 2011, 12:14:59 AM
 #39


It has already been fixed. Make sure you don't withdraw your whole balance at once. Because your balanced may be rounded up and you won't have enough for withdrawal.

Thanks!

Floating point numbers are not recommended for storing currency.

For calculations, if your float can not store 123456123456789, you probably are not using enough precision.

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Jonathan Ryan Owens
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September 13, 2011, 12:16:36 AM
 #40


It has already been fixed. Make sure you don't withdraw your whole balance at once. Because your balanced may be rounded up and you won't have enough for withdrawal.

Thanks!

Floating point numbers are not recommended for storing currency.

For calculations, if your float can not store 123456123456789, you probably are not using enough precision.

I believe he was referring to minimum account balance for withdrawal. i.e. 100 USD, you withdraw 98 USD and the 2 USD is trapped.

-Jonathan

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