zhoutong (OP)
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Merit: 502
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January 09, 2012, 01:52:31 PM |
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We have reached 2,000-user mark. To celebrate, we're glad to announce that we won't charge any extra spreads on top of market spreads in the next 12 hours. Starting: January 9, 2012 2:00 pm UTC Ending: January 10, 2012 2:00 am UTC We are paying all Mt. Gox fees incurred during this celebration. You just have to trade at the price that provides you enough liquidity! Our largest 24-hour volume ever was over 200,000 BTC. Let's see how much we can trade today! Enjoy your trading! By the way, if you still don't have an account yet, grab one at https://www.bitcoinica.com before time runs out. UPDATE: It has already started! 12 hours 3 minutes and counting... |
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Littleshop
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Activity: 1386
Merit: 1003
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January 09, 2012, 02:04:02 PM |
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We have reached 2,000-user mark. To celebrate, we're glad to announce that we won't charge any extra spreads on top of market spreads in the next 12 hours. Starting: January 9, 2012 2:00 pm UTC Ending: January 10, 2012 2:00 am UTC We are paying all Mt. Gox fees incurred during this celebration. You just have to trade at the price that provides you enough liquidity! Our largest 24-hour volume ever was over 200,000 BTC. Let's see how much we can trade today! Enjoy your trading! By the way, if you still don't have an account yet, grab one at https://www.bitcoinica.com before time runs out. UPDATE: It has already started! 12 hours 3 minutes and counting... Yea, unfortunately you forced liquidated me for a price that was lower then what really occurred in the market two hours ago. Basically the way you have the site set up one large trade (that forces an unrealistic price due to your much larger then normal spreads) positions that would survive in a real market do not in yours. I only had a 3 BTC position, but I do not think I will be coming back while you are treating spikes this way. |
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zhoutong (OP)
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Activity: 490
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January 09, 2012, 02:09:09 PM |
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We have reached 2,000-user mark. To celebrate, we're glad to announce that we won't charge any extra spreads on top of market spreads in the next 12 hours. Starting: January 9, 2012 2:00 pm UTC Ending: January 10, 2012 2:00 am UTC We are paying all Mt. Gox fees incurred during this celebration. You just have to trade at the price that provides you enough liquidity! Our largest 24-hour volume ever was over 200,000 BTC. Let's see how much we can trade today! Enjoy your trading! By the way, if you still don't have an account yet, grab one at https://www.bitcoinica.com before time runs out. UPDATE: It has already started! 12 hours 3 minutes and counting... Yea, unfortunately you forced liquidated me for a price that was lower then what really occurred in the market two hours ago. Basically the way you have the site set up one large trade (that forces an unrealistic price due to your much larger then normal spreads) positions that would survive in a real market do not in yours. I only had a 3 BTC position, but I do not think I will be coming back while you are treating spikes this way. The lowest price ever tracked today is only 4 cents, or 0.66% lower than the Mt. Gox low. I believe that unreasonable forced liquidations shouldn't happen again after the last algorithm change. |
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cypherdoc
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Activity: 1764
Merit: 1002
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January 09, 2012, 03:06:54 PM |
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We have reached 2,000-user mark. To celebrate, we're glad to announce that we won't charge any extra spreads on top of market spreads in the next 12 hours. Starting: January 9, 2012 2:00 pm UTC Ending: January 10, 2012 2:00 am UTC We are paying all Mt. Gox fees incurred during this celebration. You just have to trade at the price that provides you enough liquidity! Our largest 24-hour volume ever was over 200,000 BTC. Let's see how much we can trade today! Enjoy your trading! By the way, if you still don't have an account yet, grab one at https://www.bitcoinica.com before time runs out. UPDATE: It has already started! 12 hours 3 minutes and counting... Yea, unfortunately you forced liquidated me for a price that was lower then what really occurred in the market two hours ago. Basically the way you have the site set up one large trade (that forces an unrealistic price due to your much larger then normal spreads) positions that would survive in a real market do not in yours. I only had a 3 BTC position, but I do not think I will be coming back while you are treating spikes this way. Zhoutonged! |
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sgbett
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Activity: 2576
Merit: 1087
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January 09, 2012, 03:48:07 PM |
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Maybe I am missing something but the bid price on bitcoinica is 6.27  The bid price in gox is 6.42  Now I understand you have this guaranteed liquidity of 50BTC but down at 6.4 you have got 94BTC At 6.27 BTC depth was over 1300 ?? This is just an example, it was like that on the way up too (about 20 mins ago) I'm not stupid, I know your game is rigged against me but when you come and tell me your spreads are matching gox, you need to explain what that means, because right now it doesn't seem to mean 'your spreads are matching gox' |
"A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution" - Satoshi Nakamoto*my posts are not investment advice*
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sgbett
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January 09, 2012, 04:02:24 PM |
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I don't know the delay, you are right, but clark moody seems to correlate pretty tightly with mtgoxlive ime. (Both of which seem to be a fair indicator of real-time price).
I expect a bit of slippage. I also expect things to be a bit skewed in zhou's favour, maybe for his bid/ask to be 100 or 200 deep in the goxlive prices...
Unless of course all 1300 BTC on the bid side happen to be bitcoinica's ?
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"A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution" - Satoshi Nakamoto*my posts are not investment advice*
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zhoutong (OP)
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January 09, 2012, 04:04:15 PM |
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Maybe I am missing something but the bid price on bitcoinica is 6.27 The bid price in gox is 6.42 Now I understand you have this guaranteed liquidity of 50BTC but down at 6.4 you have got 94BTC At 6.27 BTC depth was over 1300 ?? This is just an example, it was like that on the way up too (about 20 mins ago) I'm not stupid, I know your game is rigged against me but when you come and tell me your spreads are matching gox, you need to explain what that means, because right now it doesn't seem to mean 'your spreads are matching gox' It's very likely that someone has placed a large sell order on Bitcoinica. Then we can't guarantee the liquidity at better prices. Also, delays might be an issue too. |
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sgbett
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January 09, 2012, 04:07:35 PM |
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Bid at 4700BTC deep!  uh-oh! |
"A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution" - Satoshi Nakamoto*my posts are not investment advice*
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zhoutong (OP)
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January 09, 2012, 04:10:42 PM |
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Bid at 4700BTC deep! uh-oh! I'm pretty sure that your Clark moody connection was broken. My data suggested otherwise. |
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sgbett
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January 09, 2012, 04:11:57 PM |
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I'm pretty sure you right! I think I just watched you take a dump all over the market, it broke moody and goxlive!
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"A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution" - Satoshi Nakamoto*my posts are not investment advice*
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zhoutong (OP)
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Activity: 490
Merit: 502
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January 09, 2012, 04:14:18 PM |
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I'm pretty sure you right! I think I just watched you take a dump all over the market, it broke moody and goxlive!
Bitcoinica doesn't use the crappy API that Clark moody and Mt. Gox live use. There's never anything wrong with the prices after the algorithm change. |
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sgbett
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January 09, 2012, 04:19:32 PM |
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Don't worry I love you zhou, I think you're site is marvellous and props to you for (bit)coining it in - I'm only jealous i didn't do it first! You're bound to get a few haters on the way though eh  It's very interesting to watch the effect bitcoinica can/does have on the market. (as a proxy for crazy people's sentiment, that is!) Of course I have to include myself in the 'crazy people'... Keep on trucking Mr Z |
"A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution" - Satoshi Nakamoto*my posts are not investment advice*
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yogi
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Hamster ate my bitcoin
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January 09, 2012, 04:38:00 PM |
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Dear Mr Z,
I have been mucking around on Bitcoinica for about a month now, with a small amount of coins. I think the site is excellent and I'm very impressed.
However, the possibility of becoming trapped in a position (due to no reserve) is stopping me from moving more money to your site.
Is this something that will be fixed in the future?
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Crypt_Current
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January 09, 2012, 04:41:15 PM |
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I'm pretty sure you right! I think I just watched you take a dump all over the market, it broke moody and goxlive!
Bitcoinica doesn't use the crappy API that Clark moody and Mt. Gox live use. There's never anything wrong with the prices after the algorithm change. Careful using absolutes, good sir ;-) |
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mb300sd
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Drunk Posts
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January 09, 2012, 05:39:04 PM |
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I'm pretty sure you right! I think I just watched you take a dump all over the market, it broke moody and goxlive!
Bitcoinica doesn't use the crappy API that Clark moody and Mt. Gox live use. There's never anything wrong with the prices after the algorithm change. What API do you use? Does gox have something private thats more reliable? |
1D7FJWRzeKa4SLmTznd3JpeNU13L1ErEco
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rebuilder
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Activity: 1615
Merit: 1000
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January 09, 2012, 05:41:28 PM |
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It'll be interesting to see what effect, if any, this has on the market. Increased volatility due to people trading more freely? Decreased volatility due to it being profitable to trade in a tighter range now?
Not that I think we'll be able to tell, so much noise in the system anyway.
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Selling out to advertisers shows you respect neither yourself nor the rest of us.
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tickets
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January 09, 2012, 05:44:26 PM |
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I just tried to get to bitcoinica (clicking the link in this message) but looks like site is down - dns lookup failed.. ?? Have not been able to get to this site once yet. We have reached 2,000-user mark. To celebrate, we're glad to announce that we won't charge any extra spreads on top of market spreads in the next 12 hours. Starting: January 9, 2012 2:00 pm UTC Ending: January 10, 2012 2:00 am UTC We are paying all Mt. Gox fees incurred during this celebration. You just have to trade at the price that provides you enough liquidity! Our largest 24-hour volume ever was over 200,000 BTC. Let's see how much we can trade today! Enjoy your trading! By the way, if you still don't have an account yet, grab one at https://www.bitcoinica.com before time runs out. UPDATE: It has already started! 12 hours 3 minutes and counting... |
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rebuilder
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Activity: 1615
Merit: 1000
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January 09, 2012, 05:49:26 PM |
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I just tried to get to bitcoinica (clicking the link in this message) but looks like site is down - dns lookup failed.. ??
Have not been able to get to this site once yet.
http://network-tools.com/default.asp?prog=lookup&host=www.bitcoinica.comCan you access that IP? |
Selling out to advertisers shows you respect neither yourself nor the rest of us.
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Too many low-quality posts? Mods not keeping things clean enough? Self-moderated threads let you keep signature spammers and trolls out!
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notme
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January 09, 2012, 06:01:04 PM |
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DNS issue is known, Zhoutong said he's working on it, but that was a while ago so I guess it's not terribly high priority. For now you can use opendns or googledns (8.8.8.  |
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StewartJ
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January 09, 2012, 06:12:16 PM |
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I am a MT Gox trader, but am curious about Bitcoinica.
Does Bitcoinica give you the ability to do Stop Loss Orders? Can I trade like I would on Mt Gox with close spreads, or is the spread so far apart that its not worthwhile?
I cant seem to find an exchange that does stop loss orders with enough volume.
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