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Author Topic: bitcoinica get my money out thread!  (Read 3713 times)
hmongotaku
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September 24, 2011, 01:54:13 AM
 #1

well i deposited 6 bitcoins into my bitcoinica account as well as got ONE free dollar from bitcoinica for openning an account. With bigger transaction fees and crap it will stop the massive sell/trade bots that plague Mt.Gox. Well I was wrong.. 2 days later i can't even get my money out or trade it for cash... proof is below... I tried mulitple times to get my bitcoins out or trade them for usd AT THE MARKET PRICE!


http://s3.postimage.org/wwyjqiy0q/bitcoinica.png

Oh btw I wasted 5 bucks trying to get it my damn money out, lol.. +1 USD to -4 USD! cmon WTF is wrong with this exchange?


my 1 USD proof: https://bitcointalk.org/index.php?topic=44454.msg538049#msg538049

If bitcoinica do me justice I might rename this to "Get my Money out B**&^%%$*! thread"

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idontknow
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September 24, 2011, 01:57:32 AM
 #2

I don't get it where is the proof? Oh i see you added the prrof.

http://www.winbtcs.com/?ref=16M52MjMVUWfiwZfBMBjLqGChM3ensF3mk
hmongotaku
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September 24, 2011, 01:58:21 AM
 #3

r u blind? it's a screenshot?

idontknow
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September 24, 2011, 02:00:22 AM
 #4

r u blind? it's a screenshot?

Maybe i'm a bit blind, but also there's no screenshot for me in Firefox.

http://www.winbtcs.com/?ref=16M52MjMVUWfiwZfBMBjLqGChM3ensF3mk
annelions
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September 24, 2011, 02:04:54 AM
 #5

I don't see a screenshot either.
idontknow
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September 24, 2011, 02:08:37 AM
 #6

I don't see a screenshot either.

2 vistion impaired people on the same day - we should form a club  Cool

http://www.winbtcs.com/?ref=16M52MjMVUWfiwZfBMBjLqGChM3ensF3mk
hmongotaku
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September 24, 2011, 02:09:47 AM
 #7

just realized that too.... firefox doesn't like the image tag "[img]" nor does the button work to post one up.

idontknow
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September 24, 2011, 02:15:49 AM
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just realized that too.... firefox doesn't like the image tag "[img]" nor does the button work to post one up.

I think its not a problem with ff actually but the image url you posted does a redirect to HTML format so it isn't compatible with directly putting it in [img]

http://www.winbtcs.com/?ref=16M52MjMVUWfiwZfBMBjLqGChM3ensF3mk
annelions
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September 24, 2011, 02:26:07 AM
 #9

Maybe withdrawals have to be verified by an actual person? That still doesn't explain why you were apparently able to go into a negative balance, with just withdrawals, though.
idontknow
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September 24, 2011, 02:32:40 AM
 #10

Yes it is quite strange that any trading account would be allowed to have a negative balance.

Maybe it's only allowed because of the 6 bitcoins in there?

http://s3.postimage.org/f6wv5hkgt/bitcoinica.png

http://www.winbtcs.com/?ref=16M52MjMVUWfiwZfBMBjLqGChM3ensF3mk
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September 24, 2011, 03:21:45 AM
 #11

Maybe it's only allowed because of the 6 bitcoins in there?


That'd make sense. The pic does show a "net worth" of $28.

6BTC x $5.50 per BTC - $5 in withdrawls = $28.
johnj
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September 24, 2011, 03:38:47 AM
 #12

Am I reading this correctly?

You were trying to withdraw BTC by placing market orders?

Why didn't you go to the 'Withdraw' page?

Or am I missing something?

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nmat
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September 24, 2011, 03:46:23 AM
 #13

Am I reading this correctly?

You were trying to withdraw BTC by placing market orders?

Why didn't you go to the 'Withdraw' page?

Or am I missing something?

I don't understand it either. Anyway, hmongotaku, if you don't understand what bitcoinica is then don't use it. Bitcoinica is for users with background in Forex trading. It has advanced (and dangerous!) trading options.

Besides, they are not an exchange per se. Bitcoinica trades at MtGox. If you want to run away from them, use CampBX or TradeHill.
zhoutong
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September 24, 2011, 03:48:09 AM
 #14

I'm the founder of Bitcoinica.

The confusion is simple: Bitcoinica is not (yet) a place for you to change your Bitcoins to USD. It's a trading platform for investors and speculators to gain profits from the trade. Bitcoinica is a professional tool.

You can't go to a forex broker and change your dollar to euro because you want to travel.

Bitcoinica uses net accounting system, all the profits and losses will only affect your USD account, but you can use both currencies as margin to trade. You're not trading BTC at Bitcoinica, instead, you're trading BTCUSD, which is a contract based on the ratio of values of these two currencies.

Since your USD account is negative, you can't withdraw. But I have settled your account, by using part of your BTC balance to fill the gap in your USD. Now you can withdraw BTC to your wallet!

I'm sorry that Bitcoinica is not for you at this moment, but we're developing features for people who just want to exchange Bitcoins too.

Currently we have more than 800 registered users, and most of them like Bitcoinica very much. (Most likely because they know what they're doing.)

We will keep you updated.

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

Donations for my future Bitcoin projects: 19Uk3tiD5XkBcmHyQYhJxp9QHoub7RosVb
johnj
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September 24, 2011, 03:52:16 AM
 #15

I'd ask the OP or a mod to change the title, seeing as how it was a misunderstanding.

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zhoutong
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September 24, 2011, 04:35:35 AM
 #16

Actually I have done the code and testing for account settlement for a while. It seems that now it's a good time to introduce.

Whenever you have a negative balance, Bitcoinica will display this message:



And then you have the option of either settling with BTC or depositing more USD.

The system will automatically handle the currency conversion process. Then you will be able to withdraw BTC.

I hope this feature can help people who unfortunately made a loss.

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

Donations for my future Bitcoin projects: 19Uk3tiD5XkBcmHyQYhJxp9QHoub7RosVb
hmongotaku
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September 24, 2011, 10:39:48 AM
 #17

I just want my 6 btc back! close my account pls.. take that shitty 1 btc if u want bro.. i never wanted that free 1 dollar! It's pretty gay site if I can't exchange it at the allotted/marketted price. of 5.5 usd/btc. I'm solely losing money due to 0 trades or w/e u call it. FAIL!

idontknow
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September 24, 2011, 10:42:02 AM
 #18

I just want my 6 btc back! close my account pls.. take that shitty 1 btc if u want bro.. i never wanted that free 1 dollar!

But you need 2/3 of a btc to cover the -$4

So you might get 5.3 btc back.

http://www.winbtcs.com/?ref=16M52MjMVUWfiwZfBMBjLqGChM3ensF3mk
hmongotaku
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September 24, 2011, 10:42:23 AM
 #19

yes give me my 4.3 btc back!

P4man
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September 24, 2011, 11:04:54 AM
 #20

I know how the OP feels. Ive been buying oil futures on NYMEX and my gas tank is still empty and now all my money is gone. Scammers!

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