Bitcoin Forum
December 04, 2016, 12:28:29 PM *
News: Latest stable version of Bitcoin Core: 0.13.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: « 1 [2] 3 »  All
  Print  
Author Topic: Having Fun: Bitcoinica 24-Hour Spread-Free!  (Read 3272 times)
Koekiemonster
Sr. Member
****
Offline Offline

Activity: 321


Bitbuy.nl!


View Profile
January 14, 2012, 04:21:21 PM
 #21

I was having the same problem as you Notme, but I fixed it in the way Zhou said and it works fine now Smiley

Great actions and I hope you keep improving bitcoinica in the way you've been doing Zhou!
The next thing I'd like to see is the Zhoutong price integrated in the site so I don't have to use an add-on.
Ever since I downloaded that add-on, I'm seeing this, I already uninstalled it:
http://postimage.org/image/6657sy0az/

The part after the red cross means some sources of this page are being send unencrypted.
Also, I redeemed a EUR MTGOX code at your site and mailed support about it after it failed since mtgox says it's redeemed. Could you look into this?


https://www.bitbuy.nl - Koop eenvoudig, snel en goedkoop bitcoins bij Bitbuy!
Bitcointalk topic over Bitbuy!
1480854509
Hero Member
*
Offline Offline

Posts: 1480854509

View Profile Personal Message (Offline)

Ignore
1480854509
Reply with quote  #2

1480854509
Report to moderator
The grue lurks in the darkest places of the earth. Its favorite diet is adventurers, but its insatiable appetite is tempered by its fear of light. No grue has ever been seen by the light of day, and few have survived its fearsome jaws to tell the tale.
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1480854509
Hero Member
*
Offline Offline

Posts: 1480854509

View Profile Personal Message (Offline)

Ignore
1480854509
Reply with quote  #2

1480854509
Report to moderator
1480854509
Hero Member
*
Offline Offline

Posts: 1480854509

View Profile Personal Message (Offline)

Ignore
1480854509
Reply with quote  #2

1480854509
Report to moderator
1480854509
Hero Member
*
Offline Offline

Posts: 1480854509

View Profile Personal Message (Offline)

Ignore
1480854509
Reply with quote  #2

1480854509
Report to moderator
zhoutong
VIP
Hero Member
*
Offline Offline

Activity: 490


View Profile WWW
January 14, 2012, 04:42:38 PM
 #22

How do you 'activate' the legit mtgox spread?  Im on bitcoinica trading page and I see
4.6/5.2 while on mtgox its 4.8/5.1 ??

4.8/5.1 LOL... You scared me successfully because I didn't check prices.

Well, tiny orders don't count. We need at least X, where X can be any number between 50 and 350.

Founder of NameTerrific (https://www.nameterrific.com/). Co-founder of CoinJar (https://coinjar.io/)

Donations for my future Bitcoin projects: 19Uk3tiD5XkBcmHyQYhJxp9QHoub7RosVb
tickets
Member
**
Offline Offline

Activity: 78



View Profile WWW
January 14, 2012, 05:14:42 PM
 #23

Given how thinly traded BTC is currently, orders under 50 BTC are not 'tiny'....  look at the median fill which happens between support levels.

At any rate, if this is how the deal works it would be best to disclose it up front.

Do I actually have to offer a Bid or Sell of 50 BTC to view the mt gox spread?  I am 100 BTC long when I observed the previous spread and am still seeing spread much wider than MTGox

Koekiemonster
Sr. Member
****
Offline Offline

Activity: 321


Bitbuy.nl!


View Profile
January 16, 2012, 01:33:19 PM
 #24

Zhou could you look at my reply?

https://www.bitbuy.nl - Koop eenvoudig, snel en goedkoop bitcoins bij Bitbuy!
Bitcointalk topic over Bitbuy!
zhoutong
VIP
Hero Member
*
Offline Offline

Activity: 490


View Profile WWW
January 16, 2012, 01:35:58 PM
 #25

Zhou could you look at my reply?

Hi,

We will send the EUR code back within 24 hours. Sorry for the delay, but this is a manual process.

Thank you for your patience!

Founder of NameTerrific (https://www.nameterrific.com/). Co-founder of CoinJar (https://coinjar.io/)

Donations for my future Bitcoin projects: 19Uk3tiD5XkBcmHyQYhJxp9QHoub7RosVb
tickets
Member
**
Offline Offline

Activity: 78



View Profile WWW
January 16, 2012, 02:28:04 PM
 #26

Bitcoinica not executing orders today, I put in a bunch of limit and then 'instant' market orders
when ask was 6.97, that was about 10 minutes ago - look now

http://www.diigo.com/item/image/1dbpl/1c6u

Mushoz
Hero Member
*****
Offline Offline

Activity: 686


Bitbuy


View Profile WWW
January 16, 2012, 02:32:35 PM
 #27

Bitcoinica not executing orders today, I put in a bunch of limit and then 'instant' market orders
when ask was 6.97, that was about 10 minutes ago - look now

http://www.diigo.com/item/image/1dbpl/1c6u


Because they are out of USD reserves. That's why there's a * next to the buy price. You won't be able to open new positions as long as that asterisk is there. You can close shorts however Smiley

www.bitbuy.nl - Koop eenvoudig, snel en goedkoop bitcoins bij Bitbuy!
tickets
Member
**
Offline Offline

Activity: 78



View Profile WWW
January 16, 2012, 02:54:17 PM
 #28

Wow, pretty scary - I don't see any explanation of the "*" annotation on the price on that page, the buttons should be greyed out with some big red warning to tell users the system isn't working... same for all the counter-intuitive and undocumented ways to set stops etc... I guess bitcoin just isn't ready for alpha release yet.

Timbo925
Sr. Member
****
Offline Offline

Activity: 352



View Profile
January 16, 2012, 02:58:42 PM
 #29

Indeed the bad explanation of stops made me drop a long position when I wanted to set a stop if the price dropped. Was just 10BTC the * was already up so couldn't take same position again.

Graphic Designer for hire (Ads/Logos/Banners...)   0.25 BTC  --> https://bitcointalk.org/index.php?topic=78924.msg878727#msg878727
BTC address: 1TimbojaydbZs1x5ptPVovsb9rATH3JSU
tickets
Member
**
Offline Offline

Activity: 78



View Profile WWW
January 16, 2012, 03:27:40 PM
 #30

Yes I lost money too, by trying to set a stop for a long position I had bought, using the Buy button I ended up with double the shares at a much-too-high price and had to liquidate some.

I've also Sold positions at a profit by hitting a stop and observed that no profit got added to my balance, and seen 'trailing stops' execute at odd prices not within the recent trading range.   Go figure.

Also the site offers 5:1 leverage to encourage 'advanced day traders' --- any experienced daytrader knows to avoid this kind of slippage, you start out with 1.5 % or more loss immediately from the spread.

I mean it's a nice student project, but just a few more paragraphs of text next to the functions and big red warnings about things that just don't work yet would cost nothing to add - and would help protect users who mistake it for a beta-quality site. 

Bitcoin is currently like a penny stock - it is illiquid and thinly traded, which means that small fluctuations in demand cause disproportional swings in price.  There are good reasons that financial firms will not allow margin for such stocks.

 What we have with bitcoin is something intended to operate as a currency, but in order to do so, it needs to have more liquidity, be widely held, have market makers etc.  Those things cannot happen if the units are being traded and leveraged which multiplies the volatility. Such premature speculation will discourage and likely prevent btc's wider adoption as a currency. 

notme
Legendary
*
Offline Offline

Activity: 1526


View Profile
January 16, 2012, 03:34:07 PM
 #31

Works for me.

Volatility is caused by newbies who don't know wtf they are doing and jump in head first.  Learn to use the tools before you trade.

You complain about lack of liquidity, then complain about speculators.  How do you get better liquidity without speculators?  Businesses just want to buy orders off the books and be done with it.

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
12jh3odyAAaR2XedPKZNCR4X4sebuotQzN
tickets
Member
**
Offline Offline

Activity: 78



View Profile WWW
January 16, 2012, 05:23:44 PM
 #32

Actually I've been trading since the late 90's thank you; at many times it was my primary income.
 
BTC is a very thinly traded commodity by any standard, volatility is not caused by 'newbies' it is caused by more supply and demand relative to the amount of commodity immediately available on the order stack.    Markets for currency or bond trading have deep liquidity meaning you can buy or sell as much as you like at the current price and it won't move price much.

This is in stark contrast to BTC or penny stocks, where if I were to liquidate a $1M position  on top of  the usual stack of BTC  bids in the $100-$1000 range at a given price, it will the stack past its equilibrium point... you see this on a daily basis with BTC and any illiquid issue.   

I'm not really saying this is a bad thing. It makes for fun sport if you want to speculate - my point was only that providing leveraged speculative trading opportunity works directly against the goal of establishing BTC as a widely held currency.  BTC can either 'stay small', locked up by leveraged daytraders, or it can grow big and become a stable, highly liquid commodity that functions as a currency - just not both. 

finway
Hero Member
*****
Offline Offline

Activity: 714


View Profile
January 16, 2012, 05:24:24 PM
 #33

So running out of reserve, and cause a dump.

Is this fun ?

SkRRJyTC
Legendary
*
Offline Offline

Activity: 966


View Profile
January 16, 2012, 05:30:59 PM
 #34

I'm not really saying this is a bad thing. It makes for fun sport if you want to speculate - my point was only that providing leveraged speculative trading opportunity works directly against the goal of establishing BTC as a widely held currency.  BTC can either 'stay small', locked up by leveraged daytraders, or it can grow big and become a stable, highly liquid commodity that functions as a currency - just not both. 

Aren't "stable highly liquid commodities" also full of "leveraged speculation and daytraders"?
notme
Legendary
*
Offline Offline

Activity: 1526


View Profile
January 16, 2012, 05:34:36 PM
 #35

I'm not really saying this is a bad thing. It makes for fun sport if you want to speculate - my point was only that providing leveraged speculative trading opportunity works directly against the goal of establishing BTC as a widely held currency.  BTC can either 'stay small', locked up by leveraged daytraders, or it can grow big and become a stable, highly liquid commodity that functions as a currency - just not both. 

Aren't "stable highly liquid commodities" also full of "leveraged speculation and daytraders"?

Yea... please explain how we increase liquidity without leverage.  Sure, there are fund inflows, but we can't count on that.  And not everybody that holds BTC wants to waste the hours I do softening the spikes.

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
12jh3odyAAaR2XedPKZNCR4X4sebuotQzN
tickets
Member
**
Offline Offline

Activity: 78



View Profile WWW
January 16, 2012, 05:42:22 PM
 #36


[/quote]
Aren't "stable highly liquid commodities" also full of "leveraged speculation and daytraders"?
[/quote]


Yes absolutely, but they profit from very small percentage fluctuations - large fluctuations don't happen due to the deep liquidity.  It's more efficient to do that type of trading using derivatives actually options, futures, etc.. even less capital is required to control large sums for temporary time frames.  

Think of a physical analogy - you have a glass full of ice cubes, vs a gallon of water.  The ice takes much more volume, and if you add or remove a few cubes it will change the level in the glass much more abruptly than if you remove the same amount of H20 as water.

Crypt_Current
Hero Member
*****
Offline Offline

Activity: 686


Shame on everything; regret nothing.


View Profile
January 16, 2012, 05:48:34 PM
 #37


Quote
Aren't "stable highly liquid commodities" also full of "leveraged speculation and daytraders"?


Yes absolutely, but they profit from very small percentage fluctuations - large fluctuations don't happen due to the deep liquidity.  It's more efficient to do that type of trading using derivatives actually options, futures, etc.. even less capital is required to control large sums for temporary time frames.  

Think of a physical analogy - you have a glass full of ice cubes, vs a gallon of water.  The ice takes much more volume, and if you add or remove a few cubes it will change the level in the glass much more abruptly than if you remove the same amount of H20 as water.


I'm not getting this analogy.  Can you dumb it down a shade?

10% off at CampBX for LIFE:  https://campbx.com/main.php?r=C9a5izBQ5vq  ----  Authorized BitVoucher MEGA reseller (& BTC donations appreciated):  https://bitvoucher.co/affl/1HkvK8o8WWDpCTSQGnek7DH9gT1LWeV5s3/
LTC:  LRL6vb6XBRrEEifB73DiEiYZ9vbRy99H41  NMC:  NGb2spdTGpWj8THCPyCainaXenwDhAW1ZT
SkRRJyTC
Legendary
*
Offline Offline

Activity: 966


View Profile
January 16, 2012, 05:49:51 PM
 #38

Yes absolutely, but they profit from very small percentage fluctuations - large fluctuations don't happen due to the deep liquidity.  It's more efficient to do that type of trading using derivatives actually options, futures, etc.. even less capital is required to control large sums for temporary time frames.  

Think of a physical analogy - you have a glass full of ice cubes, vs a gallon of water.  The ice takes much more volume, and if you add or remove a few cubes it will change the level in the glass much more abruptly than if you remove the same amount of H20 as water.


I understand smaller market = more volitility... but the only way we are going to get bigger is with the help of leverage and day traders.
tickets
Member
**
Offline Offline

Activity: 78



View Profile WWW
January 16, 2012, 05:57:35 PM
 #39



I'm not getting this analogy.  Can you dumb it down a shade?

You're teasing me, right? Wink

If not, do the experiment yourself.  Pour a gallon of gin into one container, put it next to a cup of ice cubes.  Then remove the equivalent of 1 oz liquid from each, and measure the change in level. 
Then, fedex me the remaining gin.

notme
Legendary
*
Offline Offline

Activity: 1526


View Profile
January 16, 2012, 06:00:26 PM
 #40



I'm not getting this analogy.  Can you dumb it down a shade?

You're teasing me, right? Wink

If not, do the experiment yourself.  Pour a gallon of gin into one container, put it next to a cup of ice cubes.  Then remove the equivalent of 1 oz liquid from each, and measure the change in level. 
Then, fedex me the remaining gin.

I think he's not getting how this relates to trading... that's where I'm failing too.  I'd hope we all know ice is less dense than water.

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
12jh3odyAAaR2XedPKZNCR4X4sebuotQzN
Pages: « 1 [2] 3 »  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!