Zhoutong, wouldn't it help your liquidity if you could increase order & trade frequency? I'm sure that would be a natural result if you could find a way to decrease the spread some. I know I'd be able to trade more - a $0.10 - $0.20 spread inside a $0.12 - $0.15 trading range doesn't leave much room to trade (unless you're trading huge, probably over-leveraged positions)
I understand that with as much leverage as you extend your customers, you have to protect yourself from significant swings, too.
I also have to wonder if maybe you ought to raise the requirements for BTC held in the currency account - severe fluctuations in the spot price of BTC/USD send heavily leveraged accounts holding (mostly) BTC spiraling down. It is often not wise to leverage the purchase of a risky asset with more of that same asset.
I have to admit, I cussed your pricing bot the other day, too - slippage was IMO, pretty steep. But I looked back through the books, and slippage the other direction was just as steep - a dead even wash from how I see it. I'm sure it could use some improvements, but that won't help with the fundamental issue of BTC holders being overleveraged.
Topic: bitcoinica's fraud actions (Read 4791 times)
However, we respect your freedom of trading.
then remove leverage limitations It's for protection of ourselves. We can't liquidate a 40,000 BTC position with 4% margin requirement.
If we increase the margin requirement to the likely slippage amount, then 10:1 will instantly result in margin call.
We are improving the system to provide dynamic liquidity instead of the fixed 50 btc.
Thanks for the comments!
fulfilling unreasonable requests isn't a sustainable measure of customer service.
That's all that really needed to be said.
My advice: go ahead with what you're doing until you realize you're wrong.
We really want to serve our customers in the best possible way we can, but really unfortunately, fulfilling unreasonable requests isn't a sustainable measure of customer service.
Again, we make profits regardless of your profits and losses. We lose money (or potential profit) in two cases:
1. Someone is unhappy about Bitcoinica and left us.
2. We're unable to liquidate a huge position in case of market volatility and result in negative balances (which are permanent debts 90% of the time).
What we have always been doing is to reduce these situations as much as possible.
EDIT:
Generally, it's obvious that the more people making profits on Bitcoinica, the better for everyone. We're never against you.
We really want to serve our customers in the best possible way we can, but really unfortunately, fulfilling unreasonable requests isn't a sustainable measure of customer service.
Again, we make profits regardless of your profits and losses. We lose money (or potential profit) in two cases:
1. Someone is unhappy about Bitcoinica and left us.
2. We're unable to liquidate a huge position in case of market volatility and result in negative balances (which are permanent debts 90% of the time).
What we have always been doing is to reduce these situations as much as possible.
EDIT:
Generally, it's obvious that the more people making profits on Bitcoinica, the better for everyone. We're never against you.
However, we respect your freedom of trading.
then remove leverage limitations It's for protection of ourselves. We can't liquidate a 40,000 BTC position with 4% margin requirement.
If we increase the margin requirement to the likely slippage amount, then 10:1 will instantly result in margin call.
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Activity: 588
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Hero VIP ultra official trusted super staff puppet
"you can be pretty sure a lot of leveraged positions (in both directions) are going to get fucked hard."
What if not enough. ask yourself would you pay 50k$-60k$-150k$ for this mistake ?
I dont think so. you would never do it until you get some insider Information.
What if not enough. ask yourself would you pay 50k$-60k$-150k$ for this mistake ?
I dont think so. you would never do it until you get some insider Information.
Wait, but didn't you post insider information - that is, your position? That's all the information that was needed to know how to liquidate you. Whoever did it was smart enough to complete the transaction and close their leveraged positions before posting about it, and they got your money. Sorry bro.
And his lack of response is not from his teddy bear advising him to remain silent. (It's because he knows he's wrong.)
"you can be pretty sure a lot of leveraged positions (in both directions) are going to get fucked hard."
What if not enough. ask yourself would you pay 50k$-60k$-150k$ for this mistake ?
I dont think so. you would never do it until you get some insider Information.
What if not enough. ask yourself would you pay 50k$-60k$-150k$ for this mistake ?
I dont think so. you would never do it until you get some insider Information.
Wait, but didn't you post insider information - that is, your position? That's all the information that was needed to know how to liquidate you. Whoever did it was smart enough to complete the transaction and close their leveraged positions before posting about it, and they got your money. Sorry bro.
I dont use bitcoinica, and never will. However, i do wonder how you made so much profit in so little time, i mean 40k in a hot wallet is pretty crazy profit right?
WAIT! We can sue others and make them pay for our own stupidity?!?!? 
brb, have a couple lawsuits to file...
brb, have a couple lawsuits to file...
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.
It wasn't as if there wasn't notice - this thread three days beforehand in the speculation topic;
Could I drive up the Bitcoin price with a clearing purchase?
https://bitcointalksearch.org/topic/m.793859
anyone with that much leverage and amount should be constantly watching the forums and taking into account actions such as the above. Even if he didn't make that purchase in the end, someone did.
marked
That's me
We never advocate excessive leverage and deliberate squeeze.
Forced liquidations do not contribute to the long-term growth of the Bitcoinica platform at all. So we won't partner with anyone who is interested in squeezing other customers either.
However, we respect your freedom of trading. You're welcome to utilize Bitcoinica for your Bitcoin investments.
At the same time, we want to warn everyone with a large amount of leverage to watch out for market risks.
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.
It wasn't as if there wasn't notice - this thread three days beforehand in the speculation topic;
Could I drive up the Bitcoin price with a clearing purchase?
https://bitcointalksearch.org/topic/m.793859
anyone with that much leverage and amount should be constantly watching the forums and taking into account actions such as the above. Even if he didn't make that purchase in the end, someone did.
marked
That's me
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 $2 (up and down), you can be pretty sure a lot of leveraged positions (in both directions) are going to get fucked hard.
It wasn't as if there wasn't notice - this thread three days beforehand in the speculation topic;
Could I drive up the Bitcoin price with a clearing purchase?
https://bitcointalksearch.org/topic/m.793859
anyone with that much leverage and amount should be constantly watching the forums and taking into account actions such as the above. Even if he didn't make that purchase in the end, someone did.
marked
Okay, meelba, let me start off by saying
Bad Mr. Teacher. How is ur FPGA by BFL in Seoul ? wasnt it contraband ?
Aww. You're handicapped, aren't you?
Check this out.
I can do a search for my name and find 20 references to being a teacher, what I've bought in the past 10 months, and all of my businesses, even my home address! Not impressive faggot.
(Also, lol@thinking I'm a teacher still. That was sufficiently years ago now.)
Now go on about your idiotic non-lawsuit which is not happening anywhere other than your imagination while I finish getting my dick sucked by another model who claimed she'd never have sex before marriage.
EDIT: Back on topic:
Quote
After Zhou stole my 30k$ (trading against clients) I have succeded with my lawer on opening a criminal case against him.
Has your lawyer / teddy bear dressed in her sunday best at your imaginary tea party told you yet that in a lawsuit you need evidence? I haven't seen any yet.
Also, you're going to get a huge surprise if and when you actually do try to sue Bitcoinica. You'll find out soon enough.
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Activity: 588
Merit: 500
Hero VIP ultra official trusted super staff puppet
Okay, meelba, let me start off by saying
Bad Mr. Teacher. How is ur FPGA by BFL in Seoul ? wasnt it contraband ?
Aww. You're handicapped, aren't you?
Check this out.
I can do a search for my name and find 20 references to being a teacher, what I've bought in the past 10 months, and all of my businesses, even my home address! Not impressive faggot.
(Also, lol@thinking I'm a teacher still. That was sufficiently years ago now.)
Now go on about your idiotic non-lawsuit which is not happening anywhere other than your imagination.
EDIT: Back on topic:
Quote
After Zhou stole my 30k$ (trading against clients) I have succeded with my lawer on opening a criminal case against him.
Has your lawyer / teddy bear dressed in her sunday best at your imaginary tea party told you yet that in a lawsuit you need evidence? I haven't seen any yet.
Also, you're going to get a huge surprise if and when you actually do try to sue Bitcoinica. You'll find out soon enough.
Okay, meelba, let me start off by saying
Bad Mr. Teacher. How is ur FPGA by BFL in Seoul ? wasnt it contraband ?
hero member
Activity: 588
Merit: 500
Hero VIP ultra official trusted super staff puppet
Okay, meelba, let me start off by saying
"you can be pretty sure a lot of leveraged positions (in both directions) are going to get fucked hard."
What if not enough. ask yourself would you pay 50k$-60k$-150k$ for this mistake ?
I dont think so. you would never do it until you get some insider Information.
What if not enough. ask yourself would you pay 50k$-60k$-150k$ for this mistake ?
I dont think so. you would never do it until you get some insider Information.
It wasn't just about you.
"you can be pretty sure a lot of leveraged positions (in both directions) are going to get fucked hard."
What if not enough. ask yourself would you pay 50k$-60k$-150k$ for this mistake ?
I dont think so. you would never do it until you get some insider Information.
What if not enough. ask yourself would you pay 50k$-60k$-150k$ for this mistake ?
I dont think so. you would never do it until you get some insider Information.
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.
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.
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.
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
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
Hope nobody in this thread use silkroad, or other shit with bitcoins.
Have a good day/night/ whatever.
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.
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. And don't forget, this forum is not bitcoin, this is not anonymous, dont be stupid, think before write.
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.
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.
And don't forget, this forum is not bitcoin, this is not anonymous, dont be stupid, think before write.
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.
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.
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.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.
Edit: the image is backup-ed at http://i.imgur.com/42p7R.jpg
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.
When you profit from bitcoinica you do not complain. When you are retarded and get force liquidated you are a little bitch.
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.
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.
Did this get the parapain seal of approval ?
+1 too. Please, someone point him this link
Weren't you the one that you posted your position on the forum a few minutes before you were liquidated?
+1 LOLYou'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.
Weren't you the one that you posted your position on the forum a few minutes before you were liquidated?
Zhou and his service have always treated me fairly. One time he even took the blow for his clients' stolen bitcoins...
What a monster! Please, use my testimony in your case!
What a monster! Please, use my testimony in your case!
If your proof for the criminal case is anything like your arguments on the forum, we're in for a good laugh.
Did this get the parapain seal of approval ?
After Zhou stole my 30k$ (trading against clients) I have succeded with my lawer on opening a criminal case against him.
Anyone whos money has been stolen (unexpected closing positions at wrong price , or any other shit), please provide me full information about your cases.
I need your name, time (when), how much money, and please describe situation (would be great with screenshots ).
If we stick together we can return our money faster.
Anyone whos money has been stolen (unexpected closing positions at wrong price , or any other shit), please provide me full information about your cases.
I need your name, time (when), how much money, and please describe situation (would be great with screenshots ).
If we stick together we can return our money faster.
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