Is Bitcoinica now under new managment?

[Bigpiggy01]

The asterisk suddenly disappeared.

Did Zhou get bought?

Has everybody pussied out?

Basically What's up?

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[Oldminer]

All their customers left because they couldnt trade

[realnowhereman]

Or people have started shorting...

[Cluster2k]

Or people have started shorting...

Oh good, we need more instability.  Time to place bids at $5 and asks at $7 again.

[Matthew N. Wright]

The asterisk suddenly disappeared.

Did Zhou get bought?

Has everybody pussied out?

Basically What's up?

Zhou will explain everything in his interview this week. Stay tuned.

[Bigpiggy01]

Zhou will explain everything in his interview this week. Stay tuned.

So is he going to tell us that out of the goodness in his heart he has decided to shut down as one pissed of person with this link https://www.psi.gov.sg/NASApp/tmf/TMFServlet?app=ePC-GenOff-Report&isNew=true&Reload=true&pagepass=LoginPagePassport

could have a large part of the communities funds etc seized?

[Matthew N. Wright]

Zhou will explain everything in his interview this week. Stay tuned.

So is he going to tell us that out of the goodness in his heart he has decided to shut down as one pissed of person with this link https://www.psi.gov.sg/NASApp/tmf/TMFServlet?app=ePC-GenOff-Report&isNew=true&Reload=true&pagepass=LoginPagePassport

could have a large part of the communities funds etc seized?

I don't think you understand anything about the way the backend of bitcoinica works, where it's actually operated from, etc. I'll let him speak for himself though as it's his job, not mine.

[Bigpiggy01]

I don't think you understand anything about the way the backend of bitcoinica works, where it's actually operated from, etc. I'll let him speak for himself though as it's his job, not mine.

He's using a Singapore Bank account and their law is pretty straight forward on this type of business.

[Matthew N. Wright]

I don't think you understand anything about the way the backend of bitcoinica works, where it's actually operated from, etc. I'll let him speak for himself though as it's his job, not mine.

He's using a Singapore Bank account and their law is pretty straight forward on this type of business.

"law is pretty straight forward on this type of business."

Is there a point in there somewhere?

It's obvious you don't know the law or else you'd come and tell me what you think he is doing that is illegal. You probably didn't know that any otherwise illegal businesses are legal there so long as they don't operate to Singaporean customers did you? How do you think paypal has succeeded so well?

Please do some research on how Paypal operates in Singapore and then we can have a proper debate and clarification from the Ministry of Trade (which Zhou has already contacted).

Stop spreading FUD.

[realnowhereman]

Or people have started shorting...

Oh good, we need more instability.  Time to place bids at $5 and asks at $7 again.

The introduction of shorting in a market that had gone full long (that's what the "*" meant) is a stabilising effect.

[naima53]

"stabilising effect"

[Bigpiggy01]

It's obvious you don't know the law or else you'd come and tell me what you think he is doing that is illegal. You probably didn't know that any otherwise illegal businesses are legal there so long as they don't operate to Singaporean customers did you? How do you think paypal has succeeded so well?

Welcome to the 21st century where servers in the supposedly secure locations get busted. Megaupload if someone put half a mind to it something similar or worse could easily happen in this type of situation.

So who's spreading FUD now?

[Matthew N. Wright]

It's obvious you don't know the law or else you'd come and tell me what you think he is doing that is illegal. You probably didn't know that any otherwise illegal businesses are legal there so long as they don't operate to Singaporean customers did you? How do you think paypal has succeeded so well?

Welcome to the 21st century where servers in the supposedly secure locations get busted. Megaupload if someone put half a mind to it something similar or worse could easily happen in this type of situation.

So who's spreading FUD now?

I'm sure you're correct on scale, but I am sure Zhou will be pleased to hear he is now comparable to the success of MegaUpload. Nice.

[Bigpiggy01]

http://en.wikipedia.org/wiki/List_of_United_States_extradition_treaties

[Matthew N. Wright]

http://en.wikipedia.org/wiki/List_of_United_States_extradition_treaties

I see your random unexplained link and raise you.

http://en.wikipedia.org/wiki/List_of_My_Little_Pony_characters

[Bigpiggy01]

But me thinks the artist got this the wrong way around  

[byronbb]

All their customers left because they couldnt trade

The funny thing is bitcoinica has spooked people from placing buy/sell bids too close to the center out of fear of a bad zhougonging; the effect of this being bitcoinica has now nothing to leverage off except out in the wings causing their own spread to be massive thereby reducing interest.

[Bigpiggy01]

The funny thing is bitcoinica has spooked people from placing buy/sell bids too close to the center out of fear of a bad zhougonging; the effect of this being bitcoinica has now nothing to leverage off except out in the wings causing their own spread to be massive thereby reducing interest.

Hence their "spread maker orders" in the market that just fuck things up even worse.

[byronbb]

The funny thing is bitcoinica has spooked people from placing buy/sell bids too close to the center out of fear of a bad zhougonging; the effect of this being bitcoinica has now nothing to leverage off except out in the wings causing their own spread to be massive thereby reducing interest.

Hence their "spread maker orders" in the market that just fuck things up even worse.

Yes I was thinking about this last night well into 4am (unable to sleep) and it seems like bitcoinica might not be viable with the current model. I take it when you leverage with a forex broker they actually place that order into the exchange? Currently when a hedge by bitcoinica has to occur it is large enough to actually move the market making the whole thing like a dog trying to catch its tail.

[Bigpiggy01]

And which exchange is this?

That's actually a good question as Zhoutong has openly admitted to not always doing this.