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Author Topic: And today there is no buying on bitcoinica  (Read 4245 times)
zby
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January 08, 2012, 02:20:13 PM
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Asterisk at the buy price - seems that the current rally is hugely levereged.
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January 08, 2012, 02:24:20 PM
 #2

Asterisk at the buy price - seems that the current rally is hugely levereged.

There was no bears at $7, we should wait tomorrow
zby
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January 08, 2012, 02:25:19 PM
 #3

And now it is gone - it was on only during the recent attack.
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January 08, 2012, 02:25:54 PM
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I can't access bitcoinica right now.  Huh
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January 08, 2012, 02:27:13 PM
 #5

it was just there for a second. its not been there long.

still waiting for them to send me the money they owe me however...

How do you withdraw it?  MtGox code or wire transfer?
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January 08, 2012, 02:39:14 PM
 #6

Zhou speaks that it isn't connected with shortage of money... https://bitcointalk.org/index.php?topic=56944.msg679061#msg679061

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January 08, 2012, 04:04:52 PM
 #7

Zhou speaks that it isn't connected with shortage of money... https://bitcointalk.org/index.php?topic=56944.msg679061#msg679061

Alas now it seems more permanent, not just the 15 seconds that he mentions.
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January 08, 2012, 04:15:14 PM
 #8

I love how Zhou has placed the "Buy" button next to the Ask price in the instant execution window to encouraged noobs to make their BTC buys at the Ask resulting in an immediate loss on the spread to the buyer and an immediate profit for Bitcoinica.

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January 08, 2012, 04:15:35 PM
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But my sierrachartfeed works well... Means with API all in normal?

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January 08, 2012, 04:19:19 PM
 #10

Sierra is not using live socket. It just pull http data periodically.
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January 08, 2012, 04:23:21 PM
 #11

Bitcoinica may be overleveraged, but mtgox is still being held up without their help.  I don't have the balls or the cash to attempt a squeeze.

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
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Otoh
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January 08, 2012, 05:02:44 PM
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I wonder if there'll be a big move when it's fixed, the only thing is that with Goxxy being in Japan they're waking up around now to a public holiday so may be on short staff & later Monday it's also a public hols in Russia so maybe more rich ru's at home looking for some BTC action or vodka fuelled trading plus it's a full moon too  Tongue  gooôöòóoœøōõo looooôöòóoœøōõooooong (hold down the o key I just noticed gives this bunch of còól ōptions, nöt sure if that's this fôrum or my cømp, first time that I've seen it = neatõ)

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January 08, 2012, 05:38:40 PM
 #13

I love how Zhou has placed the "Buy" button next to the Ask price in the instant execution window to encouraged noobs to make their BTC buys at the Ask resulting in an immediate loss on the spread to the buyer and an immediate profit for Bitcoinica.

Yea he's got himself a nice a little business.  To open a position, you lose the spread (~1%) not just once, but as many times over as your leverage.  So each time you open a position at five to one leverage you're basically giving him 5% of your deposit, and at ten to one its 10%.  Bitcoinica daytraders would more than likely be seeing their accounts dwindling if this wasn't such a strong uptrend.

Even as it is, for my risk profile its better to just hold my coin for longer-run gains and sell on mtgox (or any other real exchange).  I'm not subject to a zhoutonging at every whim of the market, and I won't have to give away my (still fantastic) gains 5x over on those rare occasions when I will want to reduce my risk. 

Short-term traders just don't seem to realize how much your gains multiply themselves when you aren't hovering over the sell button and biting your nails during a monster fucking bull run.  You just have to let them run.  When you trade short-term all you're doing is giving away your gains to sophisticated market makers.  You still make money, but they don't multiply when you do that.

Its all in good fun though.  Not like any of us here are folks desperate enough to bet more than we can afford to lose, right?  Wink

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Matthew N. Wright
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January 08, 2012, 05:54:08 PM
 #14

I love how Zhou has placed the "Buy" button next to the Ask price in the instant execution window to encouraged noobs to make their BTC buys at the Ask resulting in an immediate loss on the spread to the buyer and an immediate profit for Bitcoinica.

Yea he's got himself a nice a little business.  To open a position, you lose the spread (~1%) not just once, but as many times over as your leverage.  So each time you open a position at five to one leverage you're basically giving him 5% of your deposit, and at ten to one its 10%.  Bitcoinica daytraders would more than likely be seeing their accounts dwindling if this wasn't such a strong uptrend.

Even as it is, for my risk profile its better to just hold my coin for longer-run gains and sell on mtgox (or any other real exchange).  I'm not subject to a zhoutonging at every whim of the market, and I won't have to give away my (still fantastic) gains 5x over on those rare occasions when I will want to reduce my risk. 

Short-term traders just don't seem to realize how much your gains multiply themselves when you aren't hovering over the sell button and biting your nails during a monster fucking bull run.  You just have to let them run.  When you trade short-term all you're doing is giving away your gains to sophisticated market makers.  You still make money, but they don't multiply when you do that.

Its all in good fun though.  Not like any of us here are folks desperate enough to bet more than we can afford to lose, right?  Wink

CAN ANYONE LOAN ME 3000BTC I NEED THIS MAN IM SO CLOSE OHNORS ITS GOING DOWN FFFUUUUUUUU

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January 08, 2012, 06:25:32 PM
 #15

I love how Zhou has placed the "Buy" button next to the Ask price in the instant execution window to encouraged noobs to make their BTC buys at the Ask resulting in an immediate loss on the spread to the buyer and an immediate profit for Bitcoinica.

Yea he's got himself a nice a little business.  To open a position, you lose the spread (~1%) not just once, but as many times over as your leverage.  So each time you open a position at five to one leverage you're basically giving him 5% of your deposit, and at ten to one its 10%.  Bitcoinica daytraders would more than likely be seeing their accounts dwindling if this wasn't such a strong uptrend.

Even as it is, for my risk profile its better to just hold my coin for longer-run gains and sell on mtgox (or any other real exchange).  I'm not subject to a zhoutonging at every whim of the market, and I won't have to give away my (still fantastic) gains 5x over on those rare occasions when I will want to reduce my risk. 

Short-term traders just don't seem to realize how much your gains multiply themselves when you aren't hovering over the sell button and biting your nails during a monster fucking bull run.  You just have to let them run.  When you trade short-term all you're doing is giving away your gains to sophisticated market makers.  You still make money, but they don't multiply when you do that.

Its all in good fun though.  Not like any of us here are folks desperate enough to bet more than we can afford to lose, right?  Wink

CAN ANYONE LOAN ME 3000BTC I NEED THIS MAN IM SO CLOSE OHNORS ITS GOING DOWN FFFUUUUUUUU

I'll do that loan.. 2%/day, max 7 days?

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Otoh
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January 08, 2012, 06:44:06 PM
 #16

buying on bitcoinica back up, my limit order was filled just over half an hour ago

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cypherdoc
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January 08, 2012, 08:17:54 PM
 #17

I love how Zhou has placed the "Buy" button next to the Ask price in the instant execution window to encouraged noobs to make their BTC buys at the Ask resulting in an immediate loss on the spread to the buyer and an immediate profit for Bitcoinica.

Yea he's got himself a nice a little business.  To open a position, you lose the spread (~1%) not just once, but as many times over as your leverage.  So each time you open a position at five to one leverage you're basically giving him 5% of your deposit, and at ten to one its 10%.  Bitcoinica daytraders would more than likely be seeing their accounts dwindling if this wasn't such a strong uptrend.

Even as it is, for my risk profile its better to just hold my coin for longer-run gains and sell on mtgox (or any other real exchange).  I'm not subject to a zhoutonging at every whim of the market, and I won't have to give away my (still fantastic) gains 5x over on those rare occasions when I will want to reduce my risk. 

Short-term traders just don't seem to realize how much your gains multiply themselves when you aren't hovering over the sell button and biting your nails during a monster fucking bull run.  You just have to let them run.  When you trade short-term all you're doing is giving away your gains to sophisticated market makers.  You still make money, but they don't multiply when you do that.

Its all in good fun though.  Not like any of us here are folks desperate enough to bet more than we can afford to lose, right?  Wink

noobs get to be Mini-Zhoutonged before they get Fully-Zhoutonged. Grin
tvbcof
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January 08, 2012, 08:59:43 PM
 #18


noobs get to be Mini-Zhoutonged before they get Fully-Zhoutonged. Grin


I did.  Then I turned around and quadrupled some throw-away money, gave the gains to charity, and have not used Bitcoinica since.

In my opinion, Bitcoinica is pretty equivalent to a slightly complicated and undocumented coin-toss (unless one is actually hedging a more real-world endeavor.)  Happily I have the means to finance my own gambling and thus the luxury to avoid paying Zhou Tong for the privilege of playing in Bitcoin markets.


jothan
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January 08, 2012, 10:39:06 PM
 #19

I love how Zhou has placed the "Buy" button next to the Ask price in the instant execution window to encouraged noobs to make their BTC buys at the Ask resulting in an immediate loss on the spread to the buyer and an immediate profit for Bitcoinica.

Can't really blame him for that, it's how he makes money. Limit orders are the way to go, I got burnt by a trailing stop order.

Bitcoin: the only currency you can store directly into your brain.

What this planet needs is a good 0.0005 BTC US nickel.
zby
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January 08, 2012, 10:42:30 PM
 #20

How limit orders are better?  They are realized at the bitcoinica price - not the MtGox one and are subject to the same spread as 'buy now'.
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