Bitcoinica: 2,000 Users! Contest: Get 1 BTC for free!

[zhoutong]

We're glad to announce that now we have 2,000 registered users! Out of which, about 40% of users have funded their accounts. (That's pretty high among Bitcoin trading services.)

We're now running a contest for all Bitcoinica users. Share your thoughts with us by posting any of the following in this thread:

- Your feelings about Bitcoinica
- Your story with Bitcoinica's customer service guys
- What do you use Bitcoinica for?

Leave your Bitcoinica username, Bitcoinica user id (can be queried via RESTful API) OR a Bitcoin address at the bottom.

The authors of the first 10 valid entries will get 1 BTC each!

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[bulanula]

Very good but a bit hard to use.

Gotta be quick so as to not lose track of the market in periods of high volatility.

Thanks !

1Eq1u2NzwHWqFzj5ksD5D3Bc5iVwzFmYZS

[zhoutong]

I have said this before. being forced to sell bitcoin long at the fee, and then to buy them back again at the fee is just fail when you want to make a withdraw. i bought 100 bitcoins why do i have to pay it twice to get it out??

its not fair.


also 3 plus days for mtgox withdrawal is too much

It was a temporary problem because we hit our Mt. Gox monthly withdrawal limit at the beginning of this year. Over 98% of Mt. Gox withdrawals were processed instantly. Thank you for your patience and understanding!

[zhoutong]

Very good but a bit hard to use.

Gotta be quick so as to not lose track of the market in periods of high volatility.

Thanks !

1Eq1u2NzwHWqFzj5ksD5D3Bc5iVwzFmYZS

Sent 1 BTC. Thanks!

[zhoutong]

I have said this before. being forced to sell bitcoin long at the fee, and then to buy them back again at the fee is just fail when you want to make a withdraw. i bought 100 bitcoins why do i have to pay it twice to get it out??

its not fair.


also 3 plus days for mtgox withdrawal is too much

It was a temporary problem because we hit our Mt. Gox monthly withdrawal limit at the beginning of this year. Over 98% of Mt. Gox withdrawals were processed instantly. Thank you for your patience and understanding!

If I am long Bitcoin, why do I have to sell my bitcoin to get dollars and then buy back bitcoin to get it out?? Why do I have to pay these fees twice?

Also why do you force me to buy bitcoin when i have a negative dollar position now? This is new...

You only get away with stuff like this because you are the only one in the game right now..

You can now withdraw USD on demand. Our withdrawal limits have been refilled already. You don't have to pay the fees twice if you withdraw USD.

[terrytibbs]

People rushing to get in the first ten posts doesn't really contribute to post quality...

[wikarus]

Your feelings about Bitcoinica - good product
Your story with Bitcoinica's customer service guys - I'm almost from the very beginning of the existence of the website.
What do you use Bitcoinica for? - fun

Wikarus

16GHiCnCxKZVkbVGXVwUrBGXvfRtP1hfFr

[OgNasty]

- Your feelings about Bitcoinica
- Your story with Bitcoinica's customer service guys
- What do you use Bitcoinica for?

I think Bitcoinica is a great site that offers an awesome service.  I wish more sites offered similar trading options.

I have never used Bitcoinica's customer service, but I have complimented them on their service and received a "thank you."

I use Bitcoinica for playing around trying to time the market.  Nothing too serious.  I would also consider using it to hedge against a large sale of something for BTC while waiting for the BTC transfer to take place.

Leave your Bitcoinica username, Bitcoinica user id (can be queried via RESTful API) OR a Bitcoin address at the bottom.

The authors of the first 10 valid entries will get 1 BTC each!

168WXhArv7Fasqvi2xm5MQMfLhG18jifMe

[John (John K.)]

Your feelings about Bitcoinica - The first in the market - having to rely on bots to help me gain arbitrage sucks as compared to bitcoinica's service. A real lifesaver sometimes -  i can even out my losses.

Your story with Bitcoinica's customer service guys - zhoutong has been the only person i'm aware of as the customer service guy but he does quite good a job by maintaining presence at the forums - at least i know he wont rush away with our money so easily 

What do you use Bitcoinica for? - Even-ing out my losses in bitcoin and to obtain a general learning experience.

18c8oXmyvfAFjeR575y5XACJhtrVf9yfjR

Thanks!

[poppyh]

My feelings about your website :

Very professional design and clear to read ( much better than Gox )
Very nice color scheme in white

Did not have any problem with CS because I never had to use it till now.

I use Bitcoinica to trade and try and make some profit off the BTC market volatility swings.

1D84JAfhUE4eiBa8tZF5VXJ8S8LoswxHZn

Thank you very much dear sir !

[mb300sd]

Bitcoinica username same as here.

I like the site, but I think the spreads get a little too wide sometimes, when I can see enough volume on gox at .05, but the spread is still .15.

Otherwise, I've made a little money, and I'm still learning.

Haven't had a need to contact customer service, but it looks like hes active on the forums and responds pretty quick.

[RaggedMonk]

Overall I have lost money trading on Bitcoinica, but I still have a very positive feeling towards it.

Bitcoinica is a great way to learn the lingo of financial trading while being able set your risk level where you are comfortable with.

Before Bitcoinica launched, I had never traded anything before in my live, besides some simple market price transactions at Mt.Gox.  Now, I understand limit orders, stops, trailing stops and market orders.   I understand the implications of trading with leverage, and how this can be useful but risky.

The biggest thing I have learned using Bitcoinica is to fear and respect the invisible hand.  Markets, particularly those that trade Bitcoin, are inherently volatile and unpredictable.  It is a humbling experience to get short squeezed. Twice now, I have been almost certain: "This price is way too damn high, I am sure it will go down."  Eventually it does, but not before spiking up and wiping me out. 

I have learned that I prefer trading with lower leverage, so I can ride out more volatility.  10:1 leverage is nice, but it exposes you to getting wiped out quickly when the price moves against you.  Somewhere between 2.5 and 5 seems to be my favorite comfort range. 

Bitcoinica wallet deposit address: 1EjQAeRAbU6huJmW6m4bFWqKZFq2DGkGdh
(I promise I will lose any Bitcoin you give me trading on your site ).

[area]

- What do you use Bitcoinica for?

Mostly toying with trading algorithms with a tiny amount of BTC. I must commend you on your API; the thing that mostly sets it apart is how well documented it is, though there aren't many implementations floating around - there's one in ruby, but that's all I've seen. I might release a Python implementation once I get it up to scratch.

1ap7LCx9ZGdvHbTTuAncdmQfHCwBBmuXV

[ineededausername]

Feelings: I'm sort of ambiguous.  I think that sometimes you run out of money, which isn't good, and I hate the withdrawal time, but I know you're not entirely responsible for that.  I hate the high spreads.  However, customer service is good and uptime is usually good.
Customer service: I love the customer service.  You once refunded me for a failed withdrawal and the losses that it incurred, which I'm grateful for.
What I use it for: I used to speculate actively on Bitcoinica, but lost too much money, so now I don't use it anymore
17RiZ1eaAB9e29kuTxTh8UdPyWSiisAyaZ

[The King]

I believe I am the final and 10th user ! 

The website is nice but I think you need to put like a glossary or something for the people that do not know or understand terms like "margin trading", "leverage", "stop order", "spread" etc. because it gets a little bit confusing over time for me and I believe, others too as well !

In rest, all is very nice and the fees are quite good but the terms and technical trade data is quite difficult for me to master. Maybe that is just because I am a trading newbie

I wish you and your company the best for the future, Mr. entrepreneur !

Thank you !

1CH9qo4TVD2MERzvnnQTDvKS289maXqksb

[poppyh]

Did anyone get their 1BTC as I did not seem to have got mine yet Blockchain seems up to date as well so I wonder what the problem could be.

[zhoutong]

Did anyone get their 1BTC as I did not seem to have got mine yet Blockchain seems up to date as well so I wonder what the problem could be.

I will PM everyone a Bitcoinica BTC code today! Sorry for the wait!

[SkRRJyTC]

any chance I can still get in on this action??

[terrytibbs]

any chance I can still get in on this action??

What part of "the first 10 entries" did you not understand?

[SkRRJyTC]

any chance I can still get in on this action??

What part of "the first 10 entries" did you not understand?

Zhou is a cool guy... cant hurt to ask.