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Author Topic: Another good indicator of market activity  (Read 3729 times)
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December 12, 2011, 08:35:43 AM

Hey guys, my resolution is simple - Bitcoinica will publicize information that helps people to trust us, and continue protecting our customers and ourselves from financial attacks.

List of data that's okay to be shared:

- Hedge vs P2P ratio
- Trading volume (already available)
- Average spread (already available)
- Unbalanced portfolio percentage (in absolute value - regardless of long or short)

List of data that's definitely NOT okay to be shared:

- Stop orders (to prevent short squeeze)
- Limit orders (as the only publicly available dark pool)
- Forced liquidation status (to prevent short squeeze)
- Customer deposits (to minimize the data available for competitors)
- Absolute reserve amounts (to minimize the data available for competitors)

List of data that requires further discussion to decide:

- Reserve percentage (targeted financial attacks?)
- Delayed order book (it's technically complicated)
- Percentage change in customer deposits (targeted financial attacks?)

If we make our financial data available, it will be much easier to trigger our circuit breaker, which means that our customers will not be able to buy or sell for a brief period. This can generate market opportunities for manipulators.

However, I'm aware that hiding is not a solution. I will figure out a systematic solution to prevent us from having the ability to trade against our customers at all, even when the algorithm fails to balance the portfolio properly.

I hope this debate can end peacefully. Thank you for all the trust!

Founder of NameTerrific ( Co-founder of CoinJar (

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I advocate the Zeitgeist Movement & Venus Project.

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December 13, 2011, 09:23:19 AM

A monetary system requires ignorance, hidden information and secrecy in order to function. If we had perfect transparency in all market place dealings, then no one would be able to profit, and then there would be no need for money.

It takes me about 30 minutes to change the oil in most cars. It costs about $25 in supplies. I have no special training.

I'd bet you whatever you value that I could tell someone exactly that (perfect transparency) and sell them an oil change for $50. I would be profiting from the exchange.

Besides perfect transparency requires zero privacy. And I value privacy. It's none of your business what I possess.

Doesn't disprove the assertion.

What assertion?

I gave an example where I can provide someone perfect transparency and still make a profit by selling goods and services.

Money is just a tool. Anything can be money. If I trade Joe an egg for a loaf of bread, and then Joe trades that egg to Frank for a pair of shoes, we have a working monetary system using eggs as money. Where is the ignorance, hidden information or secrecy? Joe and Frank don't need to know where eggs come from, what I did to get the egg, or how much anyone else values the egg. All that is required is that the egg has value to them individually.

Do they have information pertaining to the quality of the items, their relative scarcity, the availability of the resources to produce the bread, the chicken population, the dietary needs of others, etc.

Bitcoin combines money, the wrongest thing in the world, with software, the easiest thing in the world to get wrong.
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