zhoutong (OP)
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Merit: 502
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February 14, 2012, 04:08:18 AM |
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Check your Account Ledger for your first interest payment! Now both USD and BTC have noticeable interest rates.  |
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Bitcoin addresses contain a checksum, so it is very unlikely that mistyping an address will cause you to lose money.
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Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
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finway
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February 14, 2012, 04:55:29 PM |
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If i took this interests, does that mean you can use my coins ?  |
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Spekulatius
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Activity: 1022
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February 14, 2012, 05:07:29 PM |
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You fucking genius, I lift my hat to you! You really got it figured out. I just hope the men in black won't close your ass down before you get all licensed (if so, ill make a good buck on that terror news).
Good luck,
Spekulatius
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rebuilder
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February 14, 2012, 07:31:40 PM |
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So you're paying around 0.0615% interest.. daily?
edit: this on USD
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Selling out to advertisers shows you respect neither yourself nor the rest of us.
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Too many low-quality posts? Mods not keeping things clean enough? Self-moderated threads let you keep signature spammers and trolls out!
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RandyMarsh
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February 14, 2012, 07:40:41 PM |
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I thought the max daily pip was 5.0?
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Stan?! STAN?!?!
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molecular
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February 15, 2012, 10:47:27 AM |
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So you're paying around 0.0615% interest.. daily?
edit: this on USD
awesome! That's about 25% yearly roi. almost as good as shares in MergedMining (38%), JLP-BMD, or FPGA.contract (30%) on http://glbse.com (ROIs calculated on current market prices). I wonder which investment has lower risk associated. |
PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0 3F39 FC49 2362 F9B7 0769
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chsados
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February 15, 2012, 10:57:56 AM |
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i dont get this..
i can deposit btc or usd and bitcoinica gives me interest? what risks are involved?
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molecular
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February 15, 2012, 11:01:39 AM |
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i dont get this..
i can deposit btc or usd and bitcoinica gives me interest? what risks are involved?
oh, not much risk really, just the usual risk involved with trusting a random stranger on the interwebs which you should be accustomed to by now as a serious bitcoiner. (disclaimer: don't take too serious) |
PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0 3F39 FC49 2362 F9B7 0769
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Cluster2k
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February 15, 2012, 11:03:18 AM |
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i dont get this..
i can deposit btc or usd and bitcoinica gives me interest? what risks are involved?
+1. USD interest rates are way above anything anyone could get anywhere in the world (without the risk of losing your money). What's to stop someone depositing $10k, never trading and collecting 8%pa? High reward = high risk. No ifs, no buts. |
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da2ce7
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Live and Let Live
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February 15, 2012, 11:11:50 AM |
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+1. USD interest rates are way above anything anyone could get anywhere in the world (without the risk of losing your money).
What's to stop someone depositing $10k, never trading and collecting 8%pa? High reward = high risk. No ifs, no buts.
as the exchange gets more liquid the rates go down... Swaps mean that those buying bitcoin or USD on leverage pay the interest to those providing the liquidity. What will happen in the future is that the starfish will never exist again as those trying to buy new long (or short in a bare market) positions will be facing extremely high swap costs. (meaning there is a huge intensive for people to provide more liquidly to to fund those positions). It is really win-win for everyone  |
One off NP-Hard.
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da2ce7
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Live and Let Live
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February 15, 2012, 11:14:55 AM |
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(meaning there is a huge intensive for people to provide more liquidly to to fund those positions).
This could be a great way to attract new $$$ into the bitcoin economy... above market rate interest rates |
One off NP-Hard.
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chsados
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February 15, 2012, 11:18:43 AM
Last edit: February 15, 2012, 11:38:53 AM by chsados |
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+1. USD interest rates are way above anything anyone could get anywhere in the world (without the risk of losing your money).
What's to stop someone depositing $10k, never trading and collecting 8%pa? High reward = high risk. No ifs, no buts.
as the exchange gets more liquid the rates go down... Swaps mean that those buying bitcoin or USD on leverage pay the interest to those providing the liquidity. What will happen in the future is that the starfish will never exist again as those trying to buy new long (or short in a bare market) positions will be facing extremely high swap costs. (meaning there is a huge intensive for people to provide more liquidly to to fund those positions). It is really win-win for everyone it just seems...too good to be true! ive been warry of bitcoinica from the start, not in terms of shady practices but i just dont understand margin trading. this seems like something that i would benefit from....seems like an un-shade-ified version of bitscalper. is it as simple as just depositing some money or do i need to do something special....i guess its time for me to register an account there and look around. EDIT:  is anyone willing to explain what the above informs us? does this mean I have to deposit money and essentially try to predict a direction (long/short), this must be wrong because its essentially the same thing as margin trading...what am i missing? i see zhoutong slowly bringing some really exciting things. if he does indeed start his own exchange he could potentially allow people to gain interest with their zhoutexchangeUSD credits |
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M4v3R
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February 15, 2012, 12:21:11 PM |
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The first two paragraphs in there explain the situation when you have no positions and some balance deposited in Bitcoinica. Considering figures from the screenshot you get 0.64% yearly for your BTC balance and 8.45% yearly for your USD balance
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muyuu
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February 15, 2012, 12:25:30 PM |
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I guess someone gets "sacrificed" to Zhoutong every now and then to finance that  |
GPG ID: 7294199D - OTC ID: muyuu (470F97EB7294199D)
forum tea fund BTC 1Epv7KHbNjYzqYVhTCgXWYhGSkv7BuKGEU DOGE DF1eTJ2vsxjHpmmbKu9jpqsrg5uyQLWksM CAP F1MzvmmHwP2UhFq82NQT7qDU9NQ8oQbtkQ
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M4v3R
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February 15, 2012, 12:34:28 PM |
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I guess someone gets "sacrificed" to Zhoutong every now and then to finance that No. As zhoutong explained somewhere else this gets financed by people who are charged for their positions. For example, right now people who are long are being charged to get the funds for paying up the interest rates. It's not much, but it adds up pretty well I guess. |
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muyuu
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February 15, 2012, 12:46:33 PM |
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I guess someone gets "sacrificed" to Zhoutong every now and then to finance that No. As zhoutong explained somewhere else this gets financed by people who are charged for their positions. For example, right now people who are long are being charged to get the funds for paying up the interest rates. It's not much, but it adds up pretty well I guess. Duh. It was a joke. Thanks for the info anyway. |
GPG ID: 7294199D - OTC ID: muyuu (470F97EB7294199D)
forum tea fund BTC 1Epv7KHbNjYzqYVhTCgXWYhGSkv7BuKGEU DOGE DF1eTJ2vsxjHpmmbKu9jpqsrg5uyQLWksM CAP F1MzvmmHwP2UhFq82NQT7qDU9NQ8oQbtkQ
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zhoutong (OP)
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Activity: 490
Merit: 502
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February 15, 2012, 12:54:09 PM |
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+1. USD interest rates are way above anything anyone could get anywhere in the world (without the risk of losing your money).
What's to stop someone depositing $10k, never trading and collecting 8%pa? High reward = high risk. No ifs, no buts.
as the exchange gets more liquid the rates go down... Swaps mean that those buying bitcoin or USD on leverage pay the interest to those providing the liquidity. What will happen in the future is that the starfish will never exist again as those trying to buy new long (or short in a bare market) positions will be facing extremely high swap costs. (meaning there is a huge intensive for people to provide more liquidly to to fund those positions). It is really win-win for everyone it just seems...too good to be true! ive been warry of bitcoinica from the start, not in terms of shady practices but i just dont understand margin trading. this seems like something that i would benefit from....seems like an un-shade-ified version of bitscalper. is it as simple as just depositing some money or do i need to do something special....i guess its time for me to register an account there and look around. EDIT: is anyone willing to explain what the above informs us? does this mean I have to deposit money and essentially try to predict a direction (long/short), this must be wrong because its essentially the same thing as margin trading...what am i missing? i see zhoutong slowly bringing some really exciting things. if he does indeed start his own exchange he could potentially allow people to gain interest with their zhoutexchangeUSD credits You don't have to do anything to earn the interest. Just deposit money and hold. (I'm not going to start an exchange for now. We will continue using Mt. Gox until a better exchange comes out.) |
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zhoutong (OP)
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Activity: 490
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February 15, 2012, 01:10:06 PM |
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i dont get this..
i can deposit btc or usd and bitcoinica gives me interest? what risks are involved?
There are no risk at all. We collect swaps from traders and distribute a (large) fraction of them to depositors through interest payments. This is not a ponzi scheme or any risky investment. It's similar to a money market fund. (In fact, Bitcoinica is the first ever Bitcoin money market.) We have a notable history of running a large-scale trading system with high security and availability. It's important to also know that the interest rate will go down if there are a lot of spare deposits, and we can't guarantee any interest rates. According to my experience and understanding of the system, realistically the long-term APY interest rates for USD should be between 3% - 8%. (But again, this is not a guarantee, just a personal opinion.) |
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notme
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February 15, 2012, 04:10:04 PM |
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There are no risk at all.
False. There is very little risk, IMHO, and I trust you with my money, but there is nothing with no risk. I guess someone gets "sacrificed" to Zhoutong every now and then to finance that No. As zhoutong explained somewhere else this gets financed by people who are charged for their positions. For example, right now people who are long are being charged to get the funds for paying up the interest rates. It's not much, but it adds up pretty well I guess. Duh. It was a joke. Thanks for the info anyway. Don't quit your day job, you suck at jokes. |
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