[Announcement] Bitcoinica changes default leverage to 2.5:1 for everyone

[Shuai]

can i ask why bitcoinica is not listed on bitcoincharts.com if it is so widely used? Is it some evil conspiracy by gox?

The first part is a good question. The second part, not so much...

I was referring to the fact that bitcoincharts is apparently controlled by mtgox and I thought they were trying to inhibit competition by not listing them there.

Only after looking into it did i realise that bitcoinica is not actually an exchange but instead do their trading via mtgox. my original post wasnt implying that bitcoinica is something mtgox made.

I am curious though, how does bitcoinica make money? do you charge a tiny extra fee on top of the mtgox fee?

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[zhoutong]

So, if I were to sell suddenly sell 1,000,000 coins on your site, this would not effect the mtgox price at all?

I could get your price down to 0 more or less and mtgox would not notice?

Just trying to understand how this works, this is not at all an attack.

If you do so, we will just hedge your positions at Mt. Gox.

The market price will definitely go down. That's why Bitcoinica is not an exchange.

Thank you for your response. I wish I had skills and the program you have to correctly regulate this.

can i ask why bitcoinica is not listed on bitcoincharts.com if it is so widely used? Is it some evil conspiracy by gox?

The first part is a good question. The second part, not so much...

I was referring to the fact that bitcoincharts is apparently controlled by mtgox and I thought they were trying to inhibit competition by not listing them there.

Only after looking into it did i realise that bitcoinica is not actually an exchange but instead do their trading via mtgox. my original post wasnt implying that bitcoinica is something mtgox made.

I am curious though, how does bitcoinica make money? do you charge a tiny extra fee on top of the mtgox fee?

bitcoincharts is controlled by mtgox? why do you think this? btw this is odds are one of the more profitable companies in the BTC network. I wish I were running this.

Bitcoinica makes money by charging spreads for all transactions. The spreads are generally high, usually ranging from 0.9% to 1.6%.

Yes, we are very profitable. Our volume is about 1/4 - 1/3 of Mt. Gox's, and the business structure is extremely lean. I always believe in the philosophy of day one profitability.

[BTCurious]

Can I invest in bitcoinica?

[zhoutong]

Can I invest in bitcoinica?

I'm interested in either 100% ownership or 0% ownership, not anything in between.

[iamzill]

When will 10:1 leverage be implemented? What exactly is the "verification" procedure?

[zhoutong]

When will 10:1 leverage be implemented? What exactly is the "verification" procedure?

We will launch the new version this weekend. Plus a big news.

You will know soon.

[iamzill]

When will 10:1 leverage be implemented? What exactly is the "verification" procedure?

We will launch the new version this weekend. Plus a big news.

You will know soon.

Good to hear that. Keep up the good work.

[iamzill]

The weekend's over. Any updates?

[ineededausername]

The weekend's over. Any updates?

+1

[Mushoz]

It's already updated.

New features:

- Refresh-less experience
- PJAX
- Better User Interface
- Account Ledger
- Order History
- Better Deposits and Withdrawals (No more emails to request for manual withdrawals)
- Currency Exchange with guaranteed rates and liquidity
- Advanced Charting, including over 20 technical indicators
- Hosted by Rackspace
- Partially Redis-backed - super-fast!
- More robust trading engine
- Customizable leverage, from 1:1 to 10:1
- … Experience yourself...