Is Bitcoinica limiting the market? | Bitcointalksearch.org

RyNinDaCleM

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Legen -wait for it- dary

Quote from: old_engineer on January 03, 2012, 09:05:38 AM

Quote from: Luis_GT on January 02, 2012, 12:30:53 AM

I see the * at times.... but that still didn't stop me from getting 1300 bitcoins on 10:1 leverage... Grin

Here's to $6 and beyond!

So... how'd that work out for you? My guess is that it was you that got liquidated, helping to push the price to $4.65.

Not good for him! From page 1
https://bitcointalksearch.org/topic/m.670922

old_engineer

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Quote from: Luis_GT on January 02, 2012, 12:30:53 AM

I see the * at times.... but that still didn't stop me from getting 1300 bitcoins on 10:1 leverage... Grin

Here's to $6 and beyond!

So... how'd that work out for you? My guess is that it was you that got liquidated, helping to push the price to $4.65.

StewartJ

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Quote from: notme on January 02, 2012, 10:00:40 PM

Quote from: cypherdoc on January 02, 2012, 09:58:35 PM

Quote from: StewartJ on January 02, 2012, 09:56:15 PM

Quote from: finway on January 02, 2012, 09:32:49 PM

Hope Mtgox and TradeHill will bring more funds when they start their future and option trading.

I wish dearly that MT Gox would let us do Stop Loss and Limit Orders, i.e. have Buy and Sell orders transacted for a specific market price.

Is that hard to implement?

It already does

To be clear, they do limit orders, but stop loss is not implemented.

Yes my bad, you can set a Limit Order.

Now Stop Loss would be a great help.

notme

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Quote from: cypherdoc on January 02, 2012, 09:58:35 PM

Quote from: StewartJ on January 02, 2012, 09:56:15 PM

Quote from: finway on January 02, 2012, 09:32:49 PM

Hope Mtgox and TradeHill will bring more funds when they start their future and option trading.

I wish dearly that MT Gox would let us do Stop Loss and Limit Orders, i.e. have Buy and Sell orders transacted for a specific market price.

Is that hard to implement?

It already does

To be clear, they do limit orders, but stop loss is not implemented.

cypherdoc

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Quote from: StewartJ on January 02, 2012, 09:56:15 PM

Quote from: finway on January 02, 2012, 09:32:49 PM

Hope Mtgox and TradeHill will bring more funds when they start their future and option trading.

I wish dearly that MT Gox would let us do Stop Loss and Limit Orders, i.e. have Buy and Sell orders transacted for a specific market price.

Is that hard to implement?

It already does

StewartJ

sr. member

Activity: 392

Merit: 250

Quote from: finway on January 02, 2012, 09:32:49 PM

Hope Mtgox and TradeHill will bring more funds when they start their future and option trading.

I wish dearly that MT Gox would let us do Stop Loss and Limit Orders.

I want to be able to trigger my Buy and Sell orders at my chosen price, not at the current market price.

Is it that hard to implement?

notme

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Quote from: 0ni0ns on January 01, 2012, 11:00:41 PM

I keep seeing the * show up on the buy button. Is it possible that there are more buyers who cannot get they're orders executed because Bitcoinica is out of funds, limiting the price?

Bitcoinica doesn't drive the market. It does let you know when the speculators are overlevereged though so you can squeeze them. Mmmmm... Bull juice is delicious.

finway

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Hope Mtgox and TradeHill will bring more funds when they start their future and option trading.

Luis_GT

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Learned my lesson for sure... lol

ineededausername

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bitcoin hundred-aire

Quote from: Luis_GT on January 02, 2012, 10:19:46 AM

Not very well... lost 60 bitcoins thanks to that...

This is why you don't leverage 10:1 Wink

Luis_GT

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Not very well... lost 60 bitcoins thanks to that...

Mushoz

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Bitbuy

Quote from: Luis_GT on January 02, 2012, 12:30:53 AM

I see the * at times.... but that still didn't stop me from getting 1300 bitcoins on 10:1 leverage... Grin

Here's to $6 and beyond!

How did the 10:1 leverage work out for you with that spike downwards? Grin

Zotia

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TokenUnion-Get Rewarded for Holding Crypto

Quote from: mb300sd on January 02, 2012, 02:23:01 AM

Quote from: caston on January 02, 2012, 02:20:44 AM

Quote from: mb300sd on January 02, 2012, 02:06:39 AM

Cashing out isn't an issue because its impossible to go into debt. Your force liquidated when your loss approaches the value of your deposit.

Not impossible and in fact it is very common. The loss can increase past the value of your deposit in the short window of time before liquidation.

Then what keeps someone from never using the account again instead of paying the debt?

Nothing.

Bitcoinica makes enough money to cover those debts.

caston

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Quote from: mb300sd on January 02, 2012, 02:23:01 AM

Quote from: caston on January 02, 2012, 02:20:44 AM

Quote from: mb300sd on January 02, 2012, 02:06:39 AM

Cashing out isn't an issue because its impossible to go into debt. Your force liquidated when your loss approaches the value of your deposit.

Not impossible and in fact it is very common. The loss can increase past the value of your deposit in the short window of time before liquidation.

Then what keeps someone from never using the account again instead of paying the debt?

After you have abandoned three or four accounts like this you realise that neither you nor Zhou are making money based on your trading strategies and decide its time to move on to something else.

cypherdoc

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Quote from: caston on January 02, 2012, 02:20:44 AM

Quote from: mb300sd on January 02, 2012, 02:06:39 AM

Cashing out isn't an issue because its impossible to go into debt. Your force liquidated when your loss approaches the value of your deposit.

Not impossible and in fact it is very common. The loss can increase past the value of your deposit in the short window of time before liquidation.

resulting in a loss for Zhou.

mb300sd

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Drunk Posts

Quote from: caston on January 02, 2012, 02:20:44 AM

Quote from: mb300sd on January 02, 2012, 02:06:39 AM

Cashing out isn't an issue because its impossible to go into debt. Your force liquidated when your loss approaches the value of your deposit.

Not impossible and in fact it is very common. The loss can increase past the value of your deposit in the short window of time before liquidation.

Then what keeps someone from never using the account again instead of paying the debt?

caston

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Quote from: mb300sd on January 02, 2012, 02:06:39 AM

Cashing out isn't an issue because its impossible to go into debt. Your force liquidated when your loss approaches the value of your deposit.

Not impossible and in fact it is very common. The loss can increase past the value of your deposit in the short window of time before liquidation.

mb300sd

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Drunk Posts

Quote from: mav on January 02, 2012, 02:04:10 AM

Quote from: Luis_GT on January 02, 2012, 12:30:53 AM

I see the * at times.... but that still didn't stop me from getting 1300 bitcoins on 10:1 leverage... Grin

Here's to $6 and beyond!

This sort of thing also makes me wonder, is leverage hurting bitcoin (borrowing money to invest and hoping it's worth more in the future so you can pay the loan)? What happens when all this leverage reverses and people want to cash out? Doesn't it just transfer the problems of fiat to bitcoin markets?

Isn't it better to let bitcoin markets reflect a non-leveraged price rather than a leveraged (and hence gambled) price?

I'm a bit of a n00b with this sort of thing so don't be afraid to post explanations that you feel are simplistic.

Cashing out isn't an issue because its impossible to go into debt. Your force liquidated when your loss approaches the value of your deposit.

mav

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Quote from: Luis_GT on January 02, 2012, 12:30:53 AM

I see the * at times.... but that still didn't stop me from getting 1300 bitcoins on 10:1 leverage... Grin

Here's to $6 and beyond!

This sort of thing also makes me wonder, is leverage hurting bitcoin (borrowing money to invest and hoping it's worth more in the future so you can pay the loan)? What happens when all this leverage reverses and people want to cash out? Doesn't it just transfer the problems of fiat to bitcoin markets?

Isn't it better to let bitcoin markets reflect a non-leveraged price rather than a leveraged (and hence gambled) price?

I'm a bit of a n00b with this sort of thing so don't be afraid to post explanations that you feel are simplistic.

Cluster2k

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I can't help but feel that services like Bitcoinica are a step backwards for bitcoin and will lead to more instability and wild swings in price. I'm not having a go at Bitcoinica in particular, but more about the introduction of '1%' tricks like short selling and high levels of leveraging. Maybe someone can introduce CFDs too and the real fun will begin.

We're moving further away from a market based on demand and supply, real world uses for bitcoins and actual commerce, and heading towards who can be the best trader and extract profits before the feces hits the fan. We're not learning the lessons of 2007-2011+.

Topic: Is Bitcoinica limiting the market? (Read 2705 times)