I bought someones liquidation - was it you?

BitPay Business Solutions

hero member

Activity: 742

Merit: 500

Quote from: Maged on February 13, 2012, 12:55:01 AM

Bitcoinica always modifies the spread to account for around a .6% fee regardless of their own costs. That's how they make their money.

got it. Bitcoinicas SELL price was hanging around 5.14 for a while, a full 1% below Gox low of the day. if anyone was liquidated or had orders filled below 5.16 let us know.

Maged

legendary

Activity: 1204

Merit: 1015

Bitcoinica always modifies the spread to account for around a .6% fee regardless of their own costs. That's how they make their money.

grndzero

sr. member

Activity: 392

Merit: 250

Quote from: Steve on February 13, 2012, 12:33:07 AM

Quote from: BitPay Business Solutions on February 13, 2012, 12:29:04 AM

Quote from: Maged on February 13, 2012, 12:23:26 AM

5.20 * (1 - .006) = 5.1688

That's where he's getting it.

Maged can you explain what formula this is?

Mtgox charges 0.6% commission on trades (on each side). Thus, the mtgox bid is 0.6% higher that what you could actually get for those bitcoin (and the ask is 0.6% lower than what you'd actually end up paying to buy bitcoins). I imagine he's speculating that bitcoinica is showing the bid prices with the fee factored in.

This doesn't seem accurate for all trades done on Mt Gox with the volume based fee scales unless he is privy to the fees involved in every trade. Even if he is representing his own trades he should be getting better then 0.6% fees for the volumes he has moved. I found it a bit odd at first that Mt Gox was shifting the price to include fees when the order executed rather than showing the trade and deducting the fee after execution. It looks like they have changed this to the latter style now and it's much less confusing in the history so you can actually see what you traded at vs having to calculate your price point without the fees.

Steve

hero member

Activity: 868

Merit: 1008

Quote from: BitPay Business Solutions on February 13, 2012, 12:29:04 AM

Quote from: Maged on February 13, 2012, 12:23:26 AM

5.20 * (1 - .006) = 5.1688

That's where he's getting it.

Maged can you explain what formula this is?

Mtgox charges 0.6% commission on trades (on each side). Thus, the mtgox bid is 0.6% higher that what you could actually get for those bitcoin (and the ask is 0.6% lower than what you'd actually end up paying to buy bitcoins). I imagine he's speculating that bitcoinica is showing the bid prices with the fee factored in.

Phinnaeus Gage

legendary

Activity: 1918

Merit: 1570

Bitcoin: An Idea Worth Spending

Quote from: bittenbob on February 13, 2012, 12:25:50 AM

Quote from: Phinnaeus Gage on February 13, 2012, 12:12:40 AM

Is any of that Bitcoin Magazine coins?

No Bitcoins from the pre-sale of Bitcoin Magazine are for speculation. They are for printing and distribution costs which I can assure you are much higher than you might think.

On a final Bitpay and Bitcoin Magazine are two completely different enterprises. The user with the account who made the OP has never been in direct contact with Bitcoin Magazine to the best of my knowledge. Sorry to debunk your wild speculation my friend.

We have received all of our funds from Bitpay to date.

Don't worry. My comments are in jest. I have faith in Matthew. As soon as he's done with his world tour, I'm sure he'll get his ass back to work on OUR magazine.

Later, Bob.

Bruno

BitPay Business Solutions

hero member

Activity: 742

Merit: 500

Quote from: Maged on February 13, 2012, 12:23:26 AM

5.20 * (1 - .006) = 5.1688

That's where he's getting it.

Maged can you explain what formula this is?

bittenbob

hero member

Activity: 560

Merit: 500

Quote from: Phinnaeus Gage on February 13, 2012, 12:12:40 AM

Is any of that Bitcoin Magazine coins?

No Bitcoins from the pre-sale of Bitcoin Magazine are for speculation. They are for printing and distribution costs which I can assure you are much higher than you might think.

On a final Bitpay and Bitcoin Magazine are two completely different enterprises. The user with the account who made the OP has never been in direct contact with Bitcoin Magazine to the best of my knowledge. Sorry to debunk your wild speculation my friend.

We have received all of our funds from Bitpay to date.

Maged

legendary

Activity: 1204

Merit: 1015

5.20 * (1 - .006) = 5.1688

That's where he's getting it.

teflone

hero member

Activity: 770

Merit: 500

You're fat, because you dont have any pics on FB

Quote from: Phinnaeus Gage on February 13, 2012, 12:12:40 AM

Is any of that Bitcoin Magazine coins?

lmao! I know eh..

Bitcoinicas hedges are dark no ?

Phinnaeus Gage

legendary

Activity: 1918

Merit: 1570

Bitcoin: An Idea Worth Spending

Is any of that Bitcoin Magazine coins?

BitPay Business Solutions

hero member

Activity: 742

Merit: 500

Ok somehow I got filled at a price I never expected to get filled. I got it from someone, and it's not showing up on any Mt. Gox feed.

Here's the bitcoincharts of the last couple hours. Low of today is 5.2000 which is confirmed by Mt. Gox website, and Mt. Gox Live (there was a large bidwall at 5.20)

Now look at Zhoutong's charts, he's showing trades going off on a Mt. Gox feed in the 5.16-5.19 range. Not once or twice, but for a full hour and a half!

So the question is, where is Zhoutong getting this feed if Mt. Gox is not reporting it, and no one else connected to Mt. Gox is reporting it?

If you got liquidated under 5.20, I'm sorry. I had a bid there, and since there is never any reserve, ever, I assumed it would just sit there forever. But no, I got filled! So I think I bought someone's liquidation. if it was you, let me know.

So did Zhou just invent a new way to zhoutong people? is he inventing his own price feed?

just to make sure I'm not missing anything, here are today's Low prices as reported by the exchanges

MtGox 5.2000
TradeHill 5.23
CryptoX 5.4
BTC-e 5.3
Camp BX 5.27

so I'm convinced Zhou is making his own price feed, unless someone else can show me where trades were going off under 5.20?

Topic: I bought someones liquidation - was it you? (Read 2181 times)