Spekulatius (OP)
Legendary
 Offline
Activity: 1022
Merit: 1000
|
 |
April 21, 2012, 03:20:05 PM |
|
  My account has a 10:1 leverage. Although its only 5$, the order (#490406) didnt get executed earlier today, when the price was reached. Reason: No Reserve. After researching the bitcoinica help forums, I learned, that "No Reserve" shows up, when bitcoinicas reserves (in this case USD reserves) are depleted. Reason: everybody is going long. Is that right or is there another reason behind that? |
|
|
|
|
|
|
|
|
|
|
|
|
|
Once a transaction has 6 confirmations, it is extremely unlikely that an attacker without at least 50% of the network's computation power would be able to reverse it.
|
|
|
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
|
|
|
|
|
|
|
|
Bigpiggy01
|
|
April 21, 2012, 03:23:43 PM |
|
They also do this temporarily if they have problems connecting to Mt Gox and other hedging markets but then it's usually both ways. I just added a tiny bit to my long so they still have some funds  |
|
|
|
|
Mushoz
|
|
April 21, 2012, 04:17:13 PM |
|
It shows no reserve when they have trouble connecting to the Mtgox API too. Their reserves are still plenty. Their interest rates on USD deposits are relatively low at the moment:
USD 1.93 7.3%
That last percentage has been over 20% without the starfish showing, so we've still got a looong way to go before they are out of reserve. And remember that as that percentage climbs, more people will most likely deposit to profit off of the interest rates, postponing the starfish even longer.
|
www.bitbuy.nl - Koop eenvoudig, snel en goedkoop bitcoins bij Bitbuy!
|
|
|
R-
Full Member
Offline
Activity: 238
Merit: 100
Pasta
|
|
April 23, 2012, 08:05:56 AM |
|
I can't pretend to understand Bitcoinica. Apfrom what I gather, everyone loses except Zhou who makes 53k USD per month in fees.
|
|
|
|
|
disclaimer201
Legendary
Offline
Activity: 1526
Merit: 1001
|
|
April 23, 2012, 08:33:52 AM |
|
I can't pretend to understand Bitcoinica. Apfrom what I gather, everyone loses except Zhou who makes 53k USD per month in fees.
You can let the big boys play to lose their money and make a profit doing nothing but transfering money or BTC to it, you know. So, I wouldn't say everyone loses. Only gamblers lose. |
|
|
|
|
Elwar
Legendary
Offline
Activity: 3598
Merit: 2384
Viva Ut Vivas
|
|
April 23, 2012, 11:23:11 AM |
|
When enough people are going long, expect the price to drop quickly and just enough for those people to get Zhouted. All for no real market reason other than the fact that Bitcoinica benefits from the quick drop. Then the price slowly goes back to where it was due to market forces. And all of those people who had money in, are now out.
|
First seastead company actually selling sea homes: Ocean Builders https://ocean.builders Of course we accept bitcoin. |
|
|
Elwar
Legendary
Offline
Activity: 3598
Merit: 2384
Viva Ut Vivas
|
|
April 24, 2012, 01:06:06 PM |
|
When enough people are going long, expect the price to drop quickly and just enough for those people to get Zhouted. All for no real market reason other than the fact that Bitcoinica benefits from the quick drop. Then the price slowly goes back to where it was due to market forces. And all of those people who had money in, are now out.
And....poof. Bitcoinica delivers as expected. |
First seastead company actually selling sea homes: Ocean Builders https://ocean.builders Of course we accept bitcoin. |
|
|
|
bitdragon
|
|
April 24, 2012, 01:23:17 PM |
|
I can't pretend to understand Bitcoinica. Apfrom what I gather, everyone loses except Zhou who makes 53k USD per month in fees.
You can let the big boys play to lose their money and make a profit doing nothing but transfering money or BTC to it, you know. So, I wouldn't say everyone loses. Only gamblers lose. Do you actually do that yourself? And do you manage that actively or you just stick in a pile and let it run? |
|
|
|
Elwar
Legendary
Offline
Activity: 3598
Merit: 2384
Viva Ut Vivas
|
|
April 24, 2012, 01:29:18 PM |
|
When enough people are going long, expect the price to drop quickly and just enough for those people to get Zhouted. All for no real market reason other than the fact that Bitcoinica benefits from the quick drop. Then the price slowly goes back to where it was due to market forces. And all of those people who had money in, are now out.
quick change on price will make bitcoinica lose money because of forced liquidations at a lower/bigger price that break even Quick change on price kicks all of those leveraged people going long out. Then Bitcoinica can buy back what they just sold and be sitting pretty. Wash rinse, repeat....profit. |
First seastead company actually selling sea homes: Ocean Builders https://ocean.builders Of course we accept bitcoin. |
|
|
disclaimer201
Legendary
Offline
Activity: 1526
Merit: 1001
|
|
April 24, 2012, 01:37:20 PM |
|
I can't pretend to understand Bitcoinica. Apfrom what I gather, everyone loses except Zhou who makes 53k USD per month in fees.
You can let the big boys play to lose their money and make a profit doing nothing but transfering money or BTC to it, you know. So, I wouldn't say everyone loses. Only gamblers lose. Do you actually do that yourself? And do you manage that actively or you just stick in a pile and let it run? Since I have absolutely no clue about speculation, yes. I sent BTC to Bitcoinica, exchanged at a relatively high price, earn interest on USD. About 10% currently. Additonally, I keep some BTC there to get mini-interest and be able to sell more if the price goes up. No maintenance fees whatsoever. As for active management, I check my ledger now and then to see if my interest payments are coming in as planned. |
|
|
|
|
|
