bitcoinica's fraud actions - page 2.

copumpkin

donator

Activity: 266

Merit: 252

I'm actually a pineapple

Quote from: meelba on March 17, 2012, 01:50:24 AM

Quote from: fcmatt on March 17, 2012, 01:46:55 AM

it seems bitcoinica website has malfunctioned, clearly malfunctioned, in the past and there are valid concerns out there.
i am just do not think the OPs is one of them. he had a chance to make a nice profit but he made the position public
and there are people here on this forum who have enough cash to buy a lot of btc to have messed with him.

Bitcoinica doesn't hedge 100% possitions. This action is loss. You cant predict how much bitcoinica will hedge, if you are not bitcoinica/ friends/stuff

Someone had enough money to move all of mtgox by $2 within a short time window around that period. You can't predict how much bitcoinica hedges, but if you move the mtgox price by $2 (up and down), you can be pretty sure a lot of leveraged positions (in both directions) are going to get fucked hard.

meelba

member

Activity: 67

Merit: 10

Quote from: fcmatt on March 17, 2012, 01:46:55 AM

it seems bitcoinica website has malfunctioned, clearly malfunctioned, in the past and there are valid concerns out there.
i am just do not think the OPs is one of them. he had a chance to make a nice profit but he made the position public
and there are people here on this forum who have enough cash to buy a lot of btc to have messed with him.

Bitcoinica doesn't hedge 100% possitions. This action is loss. You cant predict how much bitcoinica will hedge, if you are not bitcoinica/ friends/stuff

fcmatt

legendary

Activity: 2072

Merit: 1001

it seems bitcoinica website has malfunctioned, clearly malfunctioned, in the past and there are valid concerns out there.
i am just do not think the OPs is one of them. he had a chance to make a nice profit but he made the position public
and there are people here on this forum who have enough cash to buy a lot of btc to have messed with him.

John (John K.)

legendary

Activity: 1288

Merit: 1227

Away on an extended break

Quote from: copumpkin on March 17, 2012, 01:38:07 AM

Quote from: meelba on March 17, 2012, 12:58:41 AM

by now I have 6 customers who are dissatisfied with bitcoinica.
And don't forget, this forum is not bitcoin, this is not anonymous, dont be stupid, think before write.

Nice! resorting to implied legal threats against us for mocking you?

It's not illegal for us to disagree with you, and I don't care if you know my identity or not. I don't care how many people you have lined up who dislike bitcoinica; some may have legitimate concerns, but the arguments you've given so far do not indicate that you do.

As far as I'm concerned, you're someone who did something stupid, got burned for it, and are now trying to compensate for your stupidity by suing someone who you are unable to prove did anything wrong. People were remarking on how stupid it was before you got screwed, and people laughed at you after it happened. I'm sorry you lost money, but if you play in a high-risk environment, you have to be prepared for losses.

Nicely said.

friedcat

donator

Activity: 848

Merit: 1005

Quote from: copumpkin on March 17, 2012, 01:38:07 AM

Quote from: meelba on March 17, 2012, 12:58:41 AM

by now I have 6 customers who are dissatisfied with bitcoinica.
And don't forget, this forum is not bitcoin, this is not anonymous, dont be stupid, think before write.

Nice! resorting to implied legal threats against us for mocking you?

It's not illegal for us to disagree with you, and I don't care if you know my identity or not. I don't care how many people you have lined up who dislike bitcoinica; some may have legitimate concerns, but the arguments you've given so far do not indicate that you do.

As far as I'm concerned, you're someone who did something stupid, got burned for it, and are now trying to compensate for your stupidity by suing someone who you are unable to prove did anything wrong. People were remarking on how stupid it was before you got screwed, and people laughed at you after it happened. I'm sorry you lost money, but if you play in a high-risk environment, you have to be prepared for losses.

I'm even not sorry for his loss of money.

copumpkin

donator

Activity: 266

Merit: 252

I'm actually a pineapple

Quote from: meelba on March 17, 2012, 12:58:41 AM

by now I have 6 customers who are dissatisfied with bitcoinica.
And don't forget, this forum is not bitcoin, this is not anonymous, dont be stupid, think before write.

Nice! resorting to implied legal threats against us for mocking you?

It's not illegal for us to disagree with you, and I don't care if you know my identity or not. I don't care how many people you have lined up who dislike bitcoinica; some may have legitimate concerns, but the arguments you've given so far do not indicate that you do.

As far as I'm concerned, you're someone who did something stupid, got burned for it, and are now trying to compensate for your stupidity by suing someone who you are unable to prove did anything wrong. People were remarking on how stupid it was before you got screwed, and people laughed at you after it happened. I'm sorry you lost money, but if you play in a high-risk environment, you have to be prepared for losses.

John (John K.)

legendary

Activity: 1288

Merit: 1227

Away on an extended break

Quote from: meelba on March 17, 2012, 01:30:08 AM

Quote from: CA Coins on March 17, 2012, 01:17:51 AM

Just a question: where is the criminal case opened? In Singapore? Here in the US, I believe only the DA can file criminal cases. You can file a civil case with your lawyer.

Singapore? Zhou is not from Singapore.

Zhou is currently at Singapore for his studies, and if I'm not wrong he's originally from China.

meelba

member

Activity: 67

Merit: 10

Quote from: CA Coins on March 17, 2012, 01:17:51 AM

Just a question: where is the criminal case opened? In Singapore? Here in the US, I believe only the DA can file criminal cases. You can file a civil case with your lawyer.

Singapore? Zhou is not from Singapore.

meelba

member

Activity: 67

Merit: 10

Hope nobody in this thread use silkroad, or other shit with bitcoins.
Have a good day/night/ whatever.

CA Coins

donator

Activity: 305

Merit: 250

Just a question: where is the criminal case opened? In Singapore? Here in the US, I believe only the DA can file criminal cases. You can file a civil case with your lawyer.

John (John K.)

legendary

Activity: 1288

Merit: 1227

Away on an extended break

Quote from: meelba on March 17, 2012, 12:58:41 AM

by now I have 6 customers who are dissatisfied with bitcoinica.
And don't forget, this forum is not bitcoin, this is not anonymous, dont be stupid, think before write.

Yep. And that's why posting your own position here is foolish, and getting liquidated is no news for me. I did chuckle when you posted your position last time.

Quote from: meelba link=https://bitcointalk.org/index.php?topic=59969.msg698607#msg698607

Who were interested in this liquidation? nobody would buy 20 000BTC just for fun, and nobody could get profit from this trade except..... right.. bitcoinica.

I remember you posting this.
What is wrong with people buying x amount of BTC? I regularly buy BTC for fun and in faith of Bitcoin, should I ask for your permission first?
There was an influx of almost 300k USD just two days ago, is that wrong?

Do you actually trade in the real world? People regularly get liquidated but I don't see anyone going to sue their broker for their own actions.

meelba

member

Activity: 67

Merit: 10

by now I have 6 customers who are dissatisfied with bitcoinica.
And don't forget, this forum is not bitcoin, this is not anonymous, dont be stupid, think before write.

John (John K.)

legendary

Activity: 1288

Merit: 1227

Away on an extended break

Quote from: da2ce7 on March 17, 2012, 12:50:35 AM

Quote from: John (John K.) on March 17, 2012, 12:47:32 AM

So don't complain when people liquidate you. This is a free market, and you're preparing yourself to lose whatever you've placed in, same as people shorting commodities getting debt-ridden.

I don't, or wouldn't... My Leverage is always manageable.

The post was sarcastic.

Nope, not referring to you; I meant the OP. Just using what you've posted as an example to him lol

da2ce7

legendary

Activity: 1222

Merit: 1016

Live and Let Live

Quote from: John (John K.) on March 17, 2012, 12:47:32 AM

So don't complain when people liquidate you. This is a free market, and you're preparing yourself to lose whatever you've placed in, same as people shorting commodities getting debt-ridden.

I don't, or wouldn't... My Leverage is always manageable.

The post was sarcastic.

John (John K.)

legendary

Activity: 1288

Merit: 1227

Away on an extended break

Quote from: da2ce7 on March 17, 2012, 12:45:04 AM

Next time I publish my Highly Leveraged position to everyone on the forum...

I can complain when other Highly Leveraged positions force my position to liquidate...

wait... didn't you gain your original position, by liquidating people in the first instance.

So don't complain when people liquidate you. This is a free market, and you're preparing yourself to lose whatever you've placed in, same as people shorting commodities getting debt-ridden.

Edit: the image is backup-ed at http://i.imgur.com/42p7R.jpg

RicePicker

full member

Activity: 216

Merit: 100

RicePicker

https://bitcointalksearch.org/topic/--59969
When you profit from bitcoinica you do not complain. When you are retarded and get force liquidated you are a little bitch.

da2ce7

legendary

Activity: 1222

Merit: 1016

Live and Let Live

Next time I publish my Highly Leveraged position to everyone on the forum...

I can complain when other Highly Leveraged positions force my position to liquidate...

wait... didn't you gain your original position, by liquidating people in the first instance.

John (John K.)

legendary

Activity: 1288

Merit: 1227

Away on an extended break

Quote from: teflone on March 16, 2012, 11:59:55 PM

Did this get the parapain seal of approval ?

+1 too. Please, someone point him this link Wink

John (John K.)

legendary

Activity: 1288

Merit: 1227

Away on an extended break

Quote from: echowhiskey on March 17, 2012, 12:38:40 AM

Weren't you the one that you posted your position on the forum a few minutes before you were liquidated?

+1 LOL
You're just waiting for a liquidation to happen. Remember to add that you posted your position on a public forum on your testimony too.
Zhou has been fair with his dealings so far, and have refunded people when something goes wrong on his side.

Remember to post the results. I'm waiting for my laughter to come.

echowhiskey

newbie

Activity: 21

Merit: 0

Weren't you the one that you posted your position on the forum a few minutes before you were liquidated?

Topic: bitcoinica's fraud actions - page 2. (Read 4839 times)