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Author Topic: Paying all longs and btc deposits at bitcoinica!  (Read 3037 times)
notme
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April 28, 2012, 08:05:01 AM
 #1

http://charts.bitcoinica.com/interest_rates

Did somebody leverage themselves a nice sub-5 dip?

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Koekiemonster
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April 28, 2012, 09:47:12 AM
 #2

Starfish on sell!


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April 28, 2012, 10:56:29 AM
 #3

I wonder how to understand the interest rates.
If i deposit BTC at Bitcoinica, i get 1.69% a Day ?
That would be a damm good savings Account.

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April 28, 2012, 11:14:27 AM
 #4

Starfish on sell!



What does this starfish really mean? No shorts possible? Does this mean that bitcoinica has no bitcoins in reserve?

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April 28, 2012, 11:34:22 AM
 #5

I wonder how to understand the interest rates.
If i deposit BTC at Bitcoinica, i get 1.69% a Day ?
That would be a damm good savings Account.

I believe it is 1,68 pip per day.
The APY is 6.33%

1.0633^(1/365) = 1.000168187

So per day, you get right now = 0.0168%

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April 28, 2012, 11:43:37 AM
 #6

Starfish on sell!



What does this starfish really mean? No shorts possible? Does this mean that bitcoinica has no bitcoins in reserve?

Exactly as you say. This means only longs can be convered.

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April 28, 2012, 11:44:33 AM
 #7

Starfish on sell!



What does this starfish really mean? No shorts possible? Does this mean that bitcoinica has no bitcoins in reserve?

Exactly as you say. This means only longs can be convered.

thanks. does does not sound like it is a liquid platform

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April 28, 2012, 11:46:56 AM
 #8

Starfish on sell!
What does this starfish really mean? No shorts possible? Does this mean that bitcoinica has no bitcoins in reserve?

yeah it means bitcoinica is out of coins to hedge, and there are more people selling than buying internally. Although I thought they stopped this. Perhaps a lot of customers converted their coins to USD internally also.

It presents an interesting problem and opportunity to those so inclined.
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April 28, 2012, 11:54:43 AM
 #9

Starfish on sell!
What does this starfish really mean? No shorts possible? Does this mean that bitcoinica has no bitcoins in reserve?

yeah it means bitcoinica is out of coins to hedge, and there are more people selling than buying internally. Although I thought they stopped this. Perhaps a lot of customers converted their coins to USD internally also.

It presents an interesting problem and opportunity to those so inclined.

They thought of a solution in the way of paying/charging people interest on their deposits/positions and it worked really well for USD liquidity since the interest rates were huge. Since BTC interest rates weren't that attractive until last night it seems people were not interested in storing their BTC in Bitcoinica, but I guess more people will do so now since the APY interest rate for your BTC deposit is currently 6.31%. I think this is a temporary problem.

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April 29, 2012, 05:15:29 AM
 #10

Madness is still going on:


notme
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April 30, 2012, 04:16:52 AM
 #11

Madness is still going on:



Great, now both sides are highly leveraged... no matter where we go from here it's going to get messy real quick.

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April 30, 2012, 09:50:09 PM
 #12

I just pulled out of Bitcoinica after using it for months.  The algorithm that determines the spread is rigged, I have no other way to explain it.  The interest rates are nice, but if you look at the history they often fall to 0% throughout the day for no reason.  But the spread is horrendous.  The price on goxlive, btccharts, clark moody can be swinging wildly up and down on my screen, and yet the Bitcoinica spread will stay dead flat for hours.  I'm used to watching real forex spreads react immediately to the market up and down all day.  That's ignoring the fact that the spread is super massive, which limits you to swing trading only.  If you overlayed a candlestick chart of Gox on top of the Bitcoinica "Daily Quote" chart you would end up with a huge "WHAT THE FUCK!?" look on your face.  I guess what that does is even make swing trading impossible.  During any big rally or dip the spread takes so long to react it's impossible to actually make a profit.  I suppose if we were back in the days where the price moved $5 at a time you could make money, but not in this current market.
notme
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May 01, 2012, 02:22:54 AM
 #13

I just pulled out of Bitcoinica after using it for months.  The algorithm that determines the spread is rigged, I have no other way to explain it.  The interest rates are nice, but if you look at the history they often fall to 0% throughout the day for no reason.  But the spread is horrendous.  The price on goxlive, btccharts, clark moody can be swinging wildly up and down on my screen, and yet the Bitcoinica spread will stay dead flat for hours.  I'm used to watching real forex spreads react immediately to the market up and down all day.  That's ignoring the fact that the spread is super massive, which limits you to swing trading only.  If you overlayed a candlestick chart of Gox on top of the Bitcoinica "Daily Quote" chart you would end up with a huge "WHAT THE FUCK!?" look on your face.  I guess what that does is even make swing trading impossible.  During any big rally or dip the spread takes so long to react it's impossible to actually make a profit.  I suppose if we were back in the days where the price moved $5 at a time you could make money, but not in this current market.

I have to agree with most of that.

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
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zhoutong
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May 01, 2012, 03:53:51 AM
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I just pulled out of Bitcoinica after using it for months.  The algorithm that determines the spread is rigged, I have no other way to explain it.  The interest rates are nice, but if you look at the history they often fall to 0% throughout the day for no reason.  But the spread is horrendous.  The price on goxlive, btccharts, clark moody can be swinging wildly up and down on my screen, and yet the Bitcoinica spread will stay dead flat for hours.  I'm used to watching real forex spreads react immediately to the market up and down all day.  That's ignoring the fact that the spread is super massive, which limits you to swing trading only.  If you overlayed a candlestick chart of Gox on top of the Bitcoinica "Daily Quote" chart you would end up with a huge "WHAT THE FUCK!?" look on your face.  I guess what that does is even make swing trading impossible.  During any big rally or dip the spread takes so long to react it's impossible to actually make a profit.  I suppose if we were back in the days where the price moved $5 at a time you could make money, but not in this current market.

Bitcoinica pricing algorithm is very accurate. However we are not interested in the trading prices. We only concern about the liquidity. Sometimes 50 BTC can move Mt. Gox prices by a few cents, they won't be able to move Bitcoinica prices.

I personally think that Bitcoinica prices are good for offline trading, because it's not the price that was traded by others seconds ago, it is the price that you can trade at, immediately.

Now we have a much faster order processing system, and guarantee 100 BTC liquidity for a single order. The associated liquidity can be as high as 1000 BTC. (So sometimes you can place a 1000 BTC market order and trade without slippage or re-quotes!)

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May 01, 2012, 04:39:05 AM
 #15

I just pulled out of Bitcoinica after using it for months.  The algorithm that determines the spread is rigged, I have no other way to explain it.  The interest rates are nice, but if you look at the history they often fall to 0% throughout the day for no reason.  But the spread is horrendous.  The price on goxlive, btccharts, clark moody can be swinging wildly up and down on my screen, and yet the Bitcoinica spread will stay dead flat for hours.  I'm used to watching real forex spreads react immediately to the market up and down all day.  That's ignoring the fact that the spread is super massive, which limits you to swing trading only.  If you overlayed a candlestick chart of Gox on top of the Bitcoinica "Daily Quote" chart you would end up with a huge "WHAT THE FUCK!?" look on your face.  I guess what that does is even make swing trading impossible.  During any big rally or dip the spread takes so long to react it's impossible to actually make a profit.  I suppose if we were back in the days where the price moved $5 at a time you could make money, but not in this current market.

Bitcoinica pricing algorithm is very accurate. However we are not interested in the trading prices. We only concern about the liquidity. Sometimes 50 BTC can move Mt. Gox prices by a few cents, they won't be able to move Bitcoinica prices.

I personally think that Bitcoinica prices are good for offline trading, because it's not the price that was traded by others seconds ago, it is the price that you can trade at, immediately.

Now we have a much faster order processing system, and guarantee 100 BTC liquidity for a single order. The associated liquidity can be as high as 1000 BTC. (So sometimes you can place a 1000 BTC market order and trade without slippage or re-quotes!)
If the 100 BTC liquidity is true, http://help.bitcoinica.com/kb/apps/liquidity needs to be updated.
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May 01, 2012, 11:20:59 AM
 #16



Now we have a much faster order processing system, and guarantee 100 BTC liquidity for a single order. The associated liquidity can be as high as 1000 BTC. (So sometimes you can place a 1000 BTC market order and trade without slippage or re-quotes!)
If the 100 BTC liquidity is true, http://help.bitcoinica.com/kb/apps/liquidity needs to be updated.
I've noticed. Excellent! Now a large limit order is much faster!

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Zotia
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May 02, 2012, 01:02:31 AM
 #17

Now Bitcoinica is paying shorts...



What happened?
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May 02, 2012, 01:17:09 AM
 #18

Now Bitcoinica is paying shorts...



What happened?

I think, shorting "wave-lemmings"  Tongue

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May 02, 2012, 01:45:51 AM
 #19

lol, i dont think $.09 covers a shorts losses from a rising price  Grin

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naima53
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May 02, 2012, 05:33:35 AM
 #20

lol, i dont think $.09 covers a shorts losses from a rising price  Grin
but if you close the long position 4.95 (just a guess)...

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