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Author Topic: Bitcoinica  (Read 2534 times)
Blitz­
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January 18, 2012, 01:42:57 AM
 #1

Stop using it.

Buy Bitcoins with your own fucking money. Save them. Trade if the market goes crazy in a direction.

This is the contender for the future global high quality store of value. Not a pyramid scheme.

Or is it?

"Bitcoin had been transformed from an anarachistic challenge to the financial status quo, to the crypto spawn of Satan, fuelled by cut-throat greed and delusions of avarice." - MatTheCat
"these people don't seem to want to stop till Bitcoin is completely destroyed and left like an old cum rag in the corner of the room." - ShroomsKit
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legitnick
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January 18, 2012, 01:43:40 AM
 #2

Never using it ever again.

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bittenbob
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January 18, 2012, 01:44:02 AM
 #3

Stop using it.

Buy Bitcoins with your own fucking money. Save them. Trade if the market goes crazy in a direction.

This is the contender for the future global high quality store of value. Not a pyramid scheme.

Or is it?

+1

If you lose on bitcoinica dont come crying here when you lose everything. If you just traded in the market you would never have $0 like what happens when people get Zhoutonged.
SlaveInDebt
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January 18, 2012, 01:44:37 AM
 #4

You decide on

"A banker is a fellow who lends you his umbrella when the sun is shining, but wants it back the minute it begins to rain." - Mark Twain
GeniuSxBoY
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January 18, 2012, 01:45:12 AM
 #5

too late now, the douche has millions of bitcoin's doll hairs.


Serge
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January 18, 2012, 01:45:30 AM
 #6

don't they have some sort of disclaimer saying "trade at your own risk"?
Luis_GT
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January 18, 2012, 01:45:35 AM
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I've only lost about 70 BTC on bitcoinica on the last 3 months... I'm a bit conservative though...
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January 18, 2012, 01:48:27 AM
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too late now, the douche has millions of bitcoin's doll hairs.






With your money.

"A banker is a fellow who lends you his umbrella when the sun is shining, but wants it back the minute it begins to rain." - Mark Twain
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January 18, 2012, 01:49:14 AM
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Wow, you guys who got zhoutonged today are being really bitter.  I have been making money all day on Bitcoinica.  Learn how to trade.
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January 18, 2012, 01:49:32 AM
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too late now, the douche has millions of bitcoin's doll hairs.






With your money.

Blitz­
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January 18, 2012, 01:50:11 AM
 #11

Wow, you guys who got zhoutonged today are being really bitter.  I have been making money all day on Bitcoinica.  Learn how to gamble.
Fixed. Grin

"Bitcoin had been transformed from an anarachistic challenge to the financial status quo, to the crypto spawn of Satan, fuelled by cut-throat greed and delusions of avarice." - MatTheCat
"these people don't seem to want to stop till Bitcoin is completely destroyed and left like an old cum rag in the corner of the room." - ShroomsKit
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January 18, 2012, 01:53:10 AM
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Bitcoinica isn't bad if you don't go aggressive...

just my
proudhon
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January 18, 2012, 01:58:58 AM
 #13

Stop using it.

Buy Bitcoins with your own fucking money. Save them. Trade if the market goes crazy in a direction.

This is the contender for the future global high quality store of value. Not a pyramid scheme.

Or is it?

+1.  I'm glad I learned my lesson with only 5BTC.
zhoutong
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January 18, 2012, 01:59:40 AM
 #14

Stop using it.

Buy Bitcoins with your own fucking money. Save them. Trade if the market goes crazy in a direction.

This is the contender for the future global high quality store of value. Not a pyramid scheme.

Or is it?

It's more of personal trading behaviors.

I agree that we should take more responsibility in making Bitcoin a better currency, so we will take several actions in the following days to minimize our negative market impact during volatile times.

But generally, I disagree with your statement. Bitcoinica didn't start the spikes, someone else did. Bitcoin is very financially vulnerable at the moment and we need more options for traders to build a strong financial system.

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

Donations for my future Bitcoin projects: 19Uk3tiD5XkBcmHyQYhJxp9QHoub7RosVb
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January 18, 2012, 02:06:40 AM
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glad to see you take it seriously Z

This is not some pseudoeconomic post-modern Libertarian cult, it's an un-led, crowd-sourced mega startup organized around mutual self-interest where problems, whether of the theoretical or purely practical variety, are treated as temporary and, ultimately, solvable.
Censorship of e-gold was easy. Censorship of Bitcoin will be… entertaining.
Blitz­
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January 18, 2012, 02:06:58 AM
 #16

It's more of personal trading behaviors.

I agree that we should take more responsibility in making Bitcoin a better currency, so we will take several actions in the following days to minimize our negative market impact during volatile times.

But generally, I disagree with your statement. Bitcoinica didn't start the spikes, someone else did. Bitcoin is very financially vulnerable at the moment and we need more options for traders to build a strong financial system.
Yes, there are those who like the gambling and others who prefer investing. And the people with the appropriate funds also are quite fond of tricking your system to enrich themselves.

Thanks for acknowledging that.

So, because Bitcoin is vulnerable due to low market cap and illiquidity we need more leverage, derivatives and anything but a real market?

"Bitcoin had been transformed from an anarachistic challenge to the financial status quo, to the crypto spawn of Satan, fuelled by cut-throat greed and delusions of avarice." - MatTheCat
"these people don't seem to want to stop till Bitcoin is completely destroyed and left like an old cum rag in the corner of the room." - ShroomsKit
zhoutong
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January 18, 2012, 02:09:51 AM
 #17

It's more of personal trading behaviors.

I agree that we should take more responsibility in making Bitcoin a better currency, so we will take several actions in the following days to minimize our negative market impact during volatile times.

But generally, I disagree with your statement. Bitcoinica didn't start the spikes, someone else did. Bitcoin is very financially vulnerable at the moment and we need more options for traders to build a strong financial system.
Yes, there are those who like the gambling and others who prefer investing. And the people with the appropriate funds also are quite fond of tricking your system to enrich themselves.

Thanks for acknowledging that.

So, because Bitcoin is vulnerable due to low market cap and illiquidity we need more leverage, derivatives and anything but a real market?

Bitcoinica is pushing the exchanges to do better. We didn't even have a partnership with Mt. Gox. So we are totally open in terms of exchange options.

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

Donations for my future Bitcoin projects: 19Uk3tiD5XkBcmHyQYhJxp9QHoub7RosVb
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January 18, 2012, 02:12:23 AM
 #18

It's more of personal trading behaviors.

I agree that we should take more responsibility in making Bitcoin a better currency, so we will take several actions in the following days to minimize our negative market impact during volatile times.

But generally, I disagree with your statement. Bitcoinica didn't start the spikes, someone else did. Bitcoin is very financially vulnerable at the moment and we need more options for traders to build a strong financial system.
Yes, there are those who like the gambling and others who prefer investing. And the people with the appropriate funds also are quite fond of tricking your system to enrich themselves.

Thanks for acknowledging that.

So, because Bitcoin is vulnerable due to low market cap and illiquidity we need more leverage, derivatives and anything but a real market?

i vote that Matthew Wright add one more question to Zhou during his TV interview; this.
TheBlackCat
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January 18, 2012, 02:13:01 AM
 #19

i just feel like i did everything right with stops and limits and using a reasonable margin. and then i lost 3000 like that
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January 18, 2012, 02:13:21 AM
 #20

So, because Bitcoin is vulnerable due to low market cap and illiquidity we need more leverage, derivatives and anything but a real market?

Oh, derivatives would be so much fun.  You could bet on the possibility of other people losing money.  Like someone once said, it's like taking out fire insurance on your neighbour's house.  It couldn't possibly be in your best interest to throw a few lit matches their way...

I mentioned before that playing with leverage in bitcoins was a tool for the '1%ers'.  Someone just screwed a whole lot of people over.  Some won, many more lost.  Bitcoin is worse for wear.  Merchants wanting to use bitcoins aren't exactly flocking towards a commodity that can lose 20% of its value within minutes while the market is locked and participants can't sell.


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