Bitcoinica: How it works

[Otoh]

I don't know if he's fixed it as yet but zhou admitted recently to problems re trailing stops functionability & planned to recode them soon

[1715200253]

1715200253

[1715200253]

1715200253

[1715200253]

1715200253

[1715200253]

1715200253

[bitdragon]

has anyone used the trailing stop?

i just bought 100btc at 6,3683 with a trailing at 6.
The price is now at 6,3642 but my trailing has been increasing and is now at 6,17 and I cancelled it.

Did the spread get smaller? or have i missed something ? this was in the space of 12 minutes

Spreads got smaller and the price was moving up, moving the trailing stop up as well

i just tried again at 5 and it is now at 5,16 and nor the bid or ask increased by that much.

something is counting the increases a bit too much in my opinion.

[bitdragon]

there is clearly double counting going on with trailing stop.

i recorded 10 minutes of bitcoinica, and especially towards the end, leads me to believe the trails increases way too much when the bid just goes back and forth.

if it interests :
https://content22.wuala.com/rawcontent/r1fU0d06FWaFdx2fec7ZHq9viHXZ3nlbtTCfLi3fzRSqfpCzTYrtqM4Vk5SMAm2Njw-i3hIeloQQRRINU4LGPZp7eEfi1sN6t5XpQEdW6xeZqbyZZSVAp3c_TDtPBVuas_z1PnKF7riIMxYNPy_xQb5KE9yjOzrn2OSuIQIvoIs/out-26.ogv

does this link work?

[ArsenShnurkov]

does this link work?

yes

[Otoh]

also see the end of this thread re trailing stops fail

https://bitcointalk.org/index.php?topic=56583.msg676378#msg676378

[cypherdoc]

seems a little odd to me we haven't heard from Zhou for a while.  has anyone been able to remove USD's from Bitcoinica recently?  is trading proceeding normally?

[tickets]

I've been trying to figure out how to do shorting and set stoplosses on MtGox but I don't see either capability...

so I searched and found this thread where people are mentioning shorting and bitcoinica ... I can't seem to get to bitcoinica.com though. 

Can someone point me to more information on traditional daytrading type support for shorting and stoploss functions? 

thanks

[zhoutong]

seems a little odd to me we haven't heard from Zhou for a while.  has anyone been able to remove USD's from Bitcoinica recently?  is trading proceeding normally?

I'm in my hometown right now.

Withdrawals: Apparently we have hit Mt. Gox's monthly withdrawal limit. Bitcoinica users have to wait for a few days for this limit to be refilled.

Trading: No redflag event longer than 5 seconds has been recorded in the last 48 hours.

[Crypt_Current]

seems a little odd to me we haven't heard from Zhou for a while.  has anyone been able to remove USD's from Bitcoinica recently?  is trading proceeding normally?

I'm in my hometown right now.

Withdrawals: Apparently we have hit Mt. Gox's monthly withdrawal limit. Bitcoinica users have to wait for a few days for this limit to be refilled.

Trading: No redflag event longer than 5 seconds has been recorded in the last 48 hours.

FIVE SECONDS!!!!!! BULLSHIT, I WANT IT NOW!!!!!!

lolz, i'm sleep deprived.

Nice to hear from you, Zhou.  :-)

[Otoh]

seems a little odd to me we haven't heard from Zhou for a while.  has anyone been able to remove USD's from Bitcoinica recently?  is trading proceeding normally?

I'm in my hometown right now.

Withdrawals: Apparently we have hit Mt. Gox's monthly withdrawal limit. Bitcoinica users have to wait for a few days for this limit to be refilled.

Trading: No redflag event longer than 5 seconds has been recorded in the last 48 hours.

yep my funds are still locked in, if I cancel the request for a Mt.Gox Btc code can I then just send the Btc to my deposit address at Mt.Gox via bitcoinica's withdraw to wallet option, I assume yes
the few dollars also locked in I don't mind waiting for & btw Zhou if I'm ever in Singapore I'd like to buy you a stupendous lunch, preferably with bitcoins

[cypherdoc]

seems a little odd to me we haven't heard from Zhou for a while.  has anyone been able to remove USD's from Bitcoinica recently?  is trading proceeding normally?

I'm in my hometown right now.

Withdrawals: Apparently we have hit Mt. Gox's monthly withdrawal limit. Bitcoinica users have to wait for a few days for this limit to be refilled.

Trading: No redflag event longer than 5 seconds has been recorded in the last 48 hours.

so its defined by month.  can u tell us what the parameters of these limits are. i think that would help everyone.

[Otoh]

I cancelled my request for a Mt.Gox BTC code after waiting for over 12 hrs & then just withdrew to my Mt.Gox deposit address (withdraw to wallet option) the funds had cleared there within 1 hr - sweet  

[smickles]

I cancelled my request for a Mt.Gox BTC code after waiting for over 12 hrs & then just withdrew to my Mt.Gox deposit address (withdraw to wallet option) the funds had cleared there within 1 hr - sweet  

actual bitcoins are awesome, arn't they? MtGox codes feel so much like "paper money" if you catch my drift.

[Otoh]

indeed bitcoins, they just work, other options/intermediaries often seem to suck or at the very least appear not have got their act together as yet, a good learning experience

I even plan on actually downloading the client soon & starting to learn how a BTC wallet works with small change at first rather than just relying upon the exchanges to hold my BTC

up to now most of my BTC are at Mt.Gox so it seems about the same risk having them there as requesting/holding/using a Mt.Gox BTC code, the only problem was that it didn't get issued so what's the point, I wanted to move BTC to Mt.Gox & saw a Mt.Gox related facility so assumed that was the way to go, hopeless - from now on I just bitcoin transfer & Mt.Gox BTC codes can be for perhaps some fun other scenarios but I won't use them to transfer funds from Bitcoinica to Mt.Gox again & seriously Zhou should have a warning or pop up when they are maxed out to prevent peeps from going down that dead end route when it's so avoidable by just bitcoin transferring to one's Mt.Gox account

edit to add: I've now sent the BTC back to Bitcoinica from Gox & the Gox BTC code is fantastic for this as it's about instant - very useful in a fast moving market & most impressive service

[smickles]

indeed bitcoins, they just work, other options/intermediaries often seem to suck or at the very least appear not have got their act together as yet, a good learning experience

I even plan on actually downloading the client soon & starting to learn how a BTC wallet works with small change at first rather than just relying upon the exchanges to hold my BTC

If I may offer advice, Just be sure to learn how to properly and safely back up your wallet.

[Otoh]

yep, I've been genning up on this now for over 6 months & am still not confident that I get it 100%
I will need to start playing around with the wallet to get surer - I'll only send loose change to it while I practice
& even when I recon that I know pretty well how to keep it backed up & secure it will be at least 6 months more of playing around with it before I expect to feel confident enough make any long term deep storage wallets via linux which again I've only briefly looked in to over the last 3 months

[elux]

Sticky request.