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Author Topic: Bitcoinicas intern financials  (Read 1404 times)
gewure
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February 13, 2012, 10:30:31 PM
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..i wonder how profitable bitcoinica is.

zhoutong has given a relatively good insight into how bitcoinicas services work, but there has never been informations about how much money is transfered from customer losses to bitcoinica.

since mtgox recently announced some intern financial information, i would really appreciate if bitcoinica could do the same. there are many reasons, why this could be of interest. e.g. bitcoinica grows bigger and bigger and there have been various issues regarding market interaction. further bitcoinicas mechanism strongly tends to dysfunction, making it impossible to use the service as anything other than a short selling instrument. yes, im talking about his holyness the starfish *

transparency appreciated - so please disclose some information regarding your businesses profitability zhoutong!



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stochastic
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February 14, 2012, 03:20:11 AM
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..i wonder how profitable bitcoinica is.

zhoutong has given a relatively good insight into how bitcoinicas services work, but there has never been informations about how much money is transfered from customer losses to bitcoinica.

since mtgox recently announced some intern financial information, i would really appreciate if bitcoinica could do the same. there are many reasons, why this could be of interest. e.g. bitcoinica grows bigger and bigger and there have been various issues regarding market interaction. further bitcoinicas mechanism strongly tends to dysfunction, making it impossible to use the service as anything other than a short selling instrument. yes, im talking about his holyness the starfish *

transparency appreciated - so please disclose some information regarding your businesses profitability zhoutong!


The * is amazingly gone.

Bitconica is a private company so I don't see any reason for Bitcoinica to release private financial data.  I do think they should hold regular financial and security audits.  MtGox's financial disclosure was a joke and there is no reason to trust the information anyone releases unless it is verified from a 3rd party.

Introducing constraints to the economy only serves to limit what can be economical.
gewure
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February 28, 2012, 07:44:01 PM
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..i wonder how profitable bitcoinica is.

zhoutong has given a relatively good insight into how bitcoinicas services work, but there has never been informations about how much money is transfered from customer losses to bitcoinica.

since mtgox recently announced some intern financial information, i would really appreciate if bitcoinica could do the same. there are many reasons, why this could be of interest. e.g. bitcoinica grows bigger and bigger and there have been various issues regarding market interaction. further bitcoinicas mechanism strongly tends to dysfunction, making it impossible to use the service as anything other than a short selling instrument. yes, im talking about his holyness the starfish *

transparency appreciated - so please disclose some information regarding your businesses profitability zhoutong!


The * is amazingly gone.

Bitconica is a private company so I don't see any reason for Bitcoinica to release private financial data.  I do think they should hold regular financial and security audits.  MtGox's financial disclosure was a joke and there is no reason to trust the information anyone releases unless it is verified from a 3rd party.

on real money markets there are government institutions controlling and regulating (at least the are supposed to do so, .. capitalism..  Angry ) companies like bitcoinica and they do disclose some intern financial information if there are serious issues concerning the freedom and flow of the market.

in bitcoin we, the users, are free to decide where and to what conditions we 'use' our bitcoins, and the free market and competition should solve the problem. bitcoinica and mtgox have no real competition, they are to some point able to do what is commonly known as "insider trading".

i strongly encourage bitcoinica and mtgox to allow transparency to rule the bitcoin market, they will also profit from it. 

the * is amazingly gone. that's true. bitcoin works.


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February 29, 2012, 09:45:22 AM
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the * is amazingly gone. that's true. bitcoin works.

I saw it less than an hour ago, if the * is what is in place of the=/up/down. And several times over the last couple of days - but only for a couple of seconds.

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Koekiemonster
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February 29, 2012, 09:57:56 AM
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the * is amazingly gone. that's true. bitcoin works.

I saw it less than an hour ago, if the * is what is in place of the=/up/down. And several times over the last couple of days - but only for a couple of seconds.

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If it was a double * it means bitcoinica lost its connection to the MTGOX api and considering the trading volume I doubt there was a single asterisk, so nothing to worry about.

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byronbb
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March 02, 2012, 09:05:17 PM
 #6

We could probably infer earnings based on bitcoinica's front page.






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March 04, 2012, 01:09:29 PM
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Assuming a conservative estimate of $50k per day x 250 trading days a year x 0.8% average spread = $100,000 profit before expenses. Not bad....
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