After looking at many posts over the past weeks and watching Bitcoinica it has become very apparent that there is no business sense or real life business knowledge or real life trading knowledge behind Bitcoinica. Everyone has used it hoping to make a quick Buck, much like playing the lottery.
As per many people wanting to know the balance sheets and liquidity of Bitcoinica it is only fair for this to be disclosed as the RED FLAGS, constantly Running out of BTC and or USD is quite ridiculous. If a thourough investigation was done in to the practices of Bitcoinica the entire community would be shocked.
The supposed business is being run by a school kid with no real life experience or proper Forex trading experience. Many Bitcoiners have fallen for it and call it Zhoutonged which simply means RIPPED OFF!
It's time to withdraw you BTC and USD and stop letting your money be controlled by an unqualified person. It will not be long before this Zhou character is old enough to be charged for FRAUD. The practises of Bitcoinica and these magical spreads are a scam, and as mentioned in many other posts this is all BS.
So community, seriously someone build a professional and fair system that is not ripping people off. Bitcoin was not intended for such type of trading, CampBX was to introduce this and Zhou had obviously read a book and thought he was an expert.
CUTTING to the CHASE Bitcoinica is just as risky as mybitcoin.com turned out to be.
ZHOU prove to the community your true business practises.
ZHOU prove that Bitcoinica has the ability to payout all monies owed to clients without being a Ponzi
ZHOU proove you are qualified and fit to run this type of business
People, please think serious about this, Bitcoinica is just spelling another disaster for Bitcoin in General. As I said if the community want's this type of system, then MtGox or
another Trusted company should be providing this service not an incompetent kid with an Ego as large as his Platforms issues!!!!