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bitdaytrade (OP)
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August 04, 2012, 03:35:29 PM |
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Dear Community, We at https://bitdaytrade.com are ready to open the bitcoin margin trading feature to trusted beta testers .If you are interested please drop us a message to info@bitdaytrade.com with a link to your forum profile or similar references. The site new version will be unrolled gradually to all users after a brief testing phase. Thank you! |
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MykelSilver
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August 05, 2012, 06:14:21 PM
Last edit: August 05, 2012, 06:32:37 PM by MykelSilver |
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Hi,
I just have signed on to this test phase.
I have already asked you the following via your contact form. Because my question is maybe relevant to more people I share my post here, so you can publicly give your clarification on it:
I am still a bit worried about my risk when funding bitcoins to the account. Can you explain how the transferred funds are somehow safe in your hands? I have experience in trading with leverage products. I know quite a buffer is needed to withstand the volatility in the wrong direction. I hope my question to you is clear and I am looking forward to your answer. Thanks in advance!!
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bitdaytrade (OP)
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August 06, 2012, 12:44:03 AM |
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Hi,
I just have signed on to this test phase.
I have already asked you the following via your contact form. Because my question is maybe relevant to more people I share my post here, so you can publicly give your clarification on it:
I am still a bit worried about my risk when funding bitcoins to the account. Can you explain how the transferred funds are somehow safe in your hands? I have experience in trading with leverage products. I know quite a buffer is needed to withstand the volatility in the wrong direction. I hope my question to you is clear and I am looking forward to your answer. Thanks in advance!!
Bitdaytrade Customer Support Hi there, Thanks for your interest in our services. Your funds are safe to a level with us because of the security practices in place at BDT. Such as, keeping the majority of funds offline, using double factor for all our exchanges account, processing withdrawal manually and storing your password using the bcrypt hashing method. What concerns you about "the buffer" ? Thank you BDT team |
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MykelSilver
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August 06, 2012, 03:57:40 AM |
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What concerns you about
"the buffer" ?
[First off all: don't take this one hard, it is just a possible "bad" scenario, no harm intended! It is just a worry!] How are customers protected in case you "disappear" (and take all the funds of the customers with you....) In the real world brokers have a disclaimer and general terms which protects customers (and the broker itself) in some way. So is there currently any disclaimer or general terms and are there any plans for it yet? Thank you! |
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bitdaytrade (OP)
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August 06, 2012, 01:52:42 PM |
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What concerns you about
"the buffer" ?
[First off all: don't take this one hard, it is just a possible "bad" scenario, no harm intended! It is just a worry!] How are customers protected in case you "disappear" (and take all the funds of the customers with you....) In the real world brokers have a disclaimer and general terms which protects customers (and the broker itself) in some way. So is there currently any disclaimer or general terms and are there any plans for it yet? Thank you! You can read our terms of service https://bitdaytrade.com/tosWe are in the process of dealing with an insurance company for securing customer funds. BDT |
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MykelSilver
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August 06, 2012, 02:37:22 PM |
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Hi, Are there currently any other people (test) trading with bitdaytrade? At this moment it is possible to buy contracts XAU/USD, but the price is not updating. ? According to the FAQ the market should be open from 9 a.m. EST.... I have also reported this issue to support ( info@bitdaytrade.com) Has anyone else the same experience? |
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MykelSilver
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August 06, 2012, 03:41:38 PM |
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It appears I am the only one testing this platform.
Till now I have none replies on my emails regarding issues.
Is it safe to liquidate my position without any loss?
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molecular
Donator
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Activity: 2772
Merit: 1019
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August 06, 2012, 03:44:45 PM |
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It appears I am the only one testing this platform.
Till now I have none replies on my emails regarding issues.
Is it safe to liquidate my position without any loss?
as can be witnessed in this thread: https://bitcointalk.org/index.php?topic=88803.0;all and has been experienced by me via email, too, Alberto is usually not very responsive. So if you can manage: don't worry. |
PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0 3F39 FC49 2362 F9B7 0769
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Meni Rosenfeld
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Activity: 2058
Merit: 1054
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August 06, 2012, 03:55:51 PM |
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It appears I am the only one testing this platform.
Till now I have none replies on my emails regarding issues.
Is it safe to liquidate my position without any loss?
Not sure how you reached this conclusion. Your last two posts are about 1 hour apart, it's unrealistic to expect 24/7 live support from a 1-man crew. |
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MykelSilver
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August 06, 2012, 04:02:13 PM |
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You have a point (in case you are right about a one man crew),
However,
some more information is very appreciated.
It is (my) real money on the table.
Profitable positions should be able to liquidate; even in a test environment.
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Meni Rosenfeld
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Activity: 2058
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August 06, 2012, 04:31:55 PM |
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You have a point (in case you are right about a one man crew),
Alberto is helped by friends, outsourced contractors and consultants (that includes me), but he really is the only one directly involved. However,
some more information is very appreciated.
It is (my) real money on the table.
Profitable positions should be able to liquidate; even in a test environment.
If you can demonstrate that loss / missed profit was caused by bugs in the system Alberto will be happy to compensate you after the fact. |
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MykelSilver
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August 06, 2012, 04:43:52 PM |
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If you can demonstrate that loss / missed profit was caused by bugs in the system Alberto will be happy to compensate you after the fact.
Here we go: My position (which I want to liquidate):  Current price of gold:  As you can see, when I want to liquidate my position I have a loss due the wrong price of the XAU/USD contract. This price is still 1604, while the actual price of gold is around 1612 Hope Alberto can correct this. Thanks in advance |
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molecular
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Activity: 2772
Merit: 1019
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August 06, 2012, 05:00:50 PM |
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If you can demonstrate that loss / missed profit was caused by bugs in the system Alberto will be happy to compensate you after the fact.
Here we go: My position (which I want to liquidate): Current price of gold: [pic removed, see above] As you can see, when I want to liquidate my position I have a loss due the wrong price of the XAU/USD contract. This price is still 1604, while the actual price of gold is around 1612 Hope Alberto can correct this. Thanks in advance is it possible you opened this position just now taking advantage of the broken gold data feed? to be honest *cough*: that's what I did, hoping the feed will come back online before the price potentially drops again. I think the gold feed is broken... maybe the developing contractors should put in some sort of stop-flag to disable things while the feed is delivering false data? |
PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0 3F39 FC49 2362 F9B7 0769
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MykelSilver
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August 06, 2012, 05:05:28 PM |
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Well, I could still do this, but I have not done this with this position.
However I don't care to get rid of the position even without any profit, but CERTAINLY I do not take any loss, because that is really unjustified.
What should I do? Close the position with a loss? And claim the loss to Alberto? Or should I stay in and take the risk of a falling gold price?
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molecular
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Activity: 2772
Merit: 1019
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August 06, 2012, 05:13:19 PM |
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Well, I could still do this, but I have not done this with this position.
However I don't care to get rid of the position even without any profit, but CERTAINLY I do not take any loss, because that is really unjustified.
What should I do? Close the position with a loss? And claim the loss to Alberto? Or should I stay in and take the risk of a falling gold price?
I suggest you leave the position open and wait for Alberto, he's the only one who can actually fiddle with the system afaik. Make screenshots so you can prove stuff just in case. I don't think that it will be necessary: he's been generous before and it's clearly the sites fault that you can't close at a profit, which you should be able to. Should the XAU fall under 1606, I'm confident he would liquidate your position without loss manually or reimburse you somehow. |
PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0 3F39 FC49 2362 F9B7 0769
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MykelSilver
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August 06, 2012, 05:16:32 PM |
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Make screenshots so you can prove stuff just in case. I don't think that it will be necessary: he's been generous before and it's clearly the sites fault that you can't close at a profit, which you should be able to.
I hope the screenshots above are prove enough? I really do not know what more screenshots are needed? Its all I got :-( |
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Meni Rosenfeld
Donator
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Activity: 2058
Merit: 1054
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August 06, 2012, 05:31:39 PM |
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maybe the developing contractors should put in some sort of stop-flag to disable things while the feed is delivering false data?
Development work isn't one of the things that's outsourced. |
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naima53
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August 06, 2012, 06:45:35 PM |
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It is (my) real money on the table....
Do not worry due small things,  this service needs to be testers, I think, will I soon open a theme in the Russian sub-forum. After fixing some important bugs ...  |
Donate me) 16f6iWHHkVEnDReeBQPT9GwCNwUfPTXrp2
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bitdaytrade (OP)
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August 06, 2012, 10:35:49 PM |
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Send as un email with details of your position. today i have had internet connection troubles and have been able to restart the trading engine only by 14:00 local time (GMT+1 - Italy). This was due because the gold market stops on the weekend and i have to manually restart it on monday. I'll setup a backup solution to avoid this happening again in the future. apologizes for the issue, we offer to adjust all positions unjustly closed to 0 profit/loss. It might have happened that i've missed some emails or messages, this is because i'm currently still busy with my day job, which involves hotel+restaurant management and here it is currently Summer and the hottest season for tourism. I'll be able to dedicate more time very soon. Please send again an email with your issue if you didn't receive a reply.
Thank you for your interest.
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