..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.
money markets there are government institutions controlling and regulating (at least the are supposed to do so, .. capitalism..
) 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.