[NEWS] Bit4x.com - First FOREX accepts bitcoin! - 1:1000 Leverage!!! - page 8.

kakobrekla

hero member

Activity: 714

Merit: 500

Psi laju, karavani prolaze.

Quote from: labestiol on October 02, 2012, 01:15:57 PM

Quote from: kakobrekla on October 02, 2012, 12:52:38 PM

Quote from: labestiol on October 02, 2012, 12:45:37 PM

Ok, got it. So it's a standard forex platform where your account is in BTC.
Thus you are subject to risk from BTC variations, without being able to hedge it.

Is the BTC/USD rate the one from MtGox ?

BTC/USD rate is irrelevant for your trading limits and whatnot.

Quote

Current Bitcoin exchange rates won't affect your trading limits. With the minimum deposit for opening a Live account, 100 BTC and 1:10 leverage you can trade up to 0.01 lot. With the same deposit and 1:100 leverage you can trade up to 0.1 lot and so on.

Yep, but it'll affect your margin. If BTC/USD is up, your margin is increased, and vice-versa. Right ?

Accually no, if you want to go into details, margin is affected by EUR/USD rate, but its going in your favour anyway.
There seems to be no way around this until the BTC will be one of the 'official' Forex currencies. You can read about margin details here: http://btctrading.wordpress.com/2012/10/01/714/

ElectricMucus

legendary

Activity: 1666

Merit: 1057

Marketing manager - GO MP

This is essentially btcdaytrade all over again.

In case you missed it: Yeah this is very probable a scam.
Looking forward for another "I told you so." incident - can't have enough of those. Tongue

labestiol

sr. member

Activity: 434

Merit: 251

Quote from: kakobrekla on October 02, 2012, 12:52:38 PM

Quote from: labestiol on October 02, 2012, 12:45:37 PM

Ok, got it. So it's a standard forex platform where your account is in BTC.
Thus you are subject to risk from BTC variations, without being able to hedge it.

Is the BTC/USD rate the one from MtGox ?

BTC/USD rate is irrelevant for your trading limits and whatnot.

Quote

Current Bitcoin exchange rates won't affect your trading limits. With the minimum deposit for opening a Live account, 100 BTC and 1:10 leverage you can trade up to 0.01 lot. With the same deposit and 1:100 leverage you can trade up to 0.1 lot and so on.

Yep, but it'll affect your margin. If BTC/USD is up, your margin is increased, and vice-versa. Right ?
So if an event like the pirate default happens, your margin can be cut in half in 3 days.

kakobrekla

hero member

Activity: 714

Merit: 500

Psi laju, karavani prolaze.

Quote from: labestiol on October 02, 2012, 12:45:37 PM

Ok, got it. So it's a standard forex platform where your account is in BTC.
Thus you are subject to risk from BTC variations, without being able to hedge it.

Is the BTC/USD rate the one from MtGox ?

BTC/USD rate is irrelevant for your trading limits and whatnot.

Quote

Current Bitcoin exchange rates won't affect your trading limits. With the minimum deposit for opening a Live account, 100 BTC and 1:10 leverage you can trade up to 0.01 lot. With the same deposit and 1:100 leverage you can trade up to 0.1 lot and so on.

Foxtra

newbie

Activity: 28

Merit: 0

" Bitcoins are volatile, can you guarantee my payouts if Bitcoins rise or fall in value?
Yes, our broker VenetFX holds extra Bitcoin reserves, twice the sum of all clients deposits at all times. Just in case that won't be enough, the broker will acquire more Bitcoins on the market. "

This is enough to say that I won't put a single $ or BTC on this broker.

labestiol

sr. member

Activity: 434

Merit: 251

Ok, got it. So it's a standard forex platform where your account is in BTC.
Thus you are subject to risk from BTC variations, without being able to hedge it.

Is the BTC/USD rate the one from MtGox ?

fcmatt

legendary

Activity: 2072

Merit: 1001

Quote from: kentrolla on October 02, 2012, 11:42:44 AM

Quote from: fcmatt on October 02, 2012, 11:34:22 AM

Quote from: kentrolla on October 02, 2012, 11:11:05 AM

Quote from: Spekulatius on October 02, 2012, 10:15:14 AM

Quote from: Enky1974 on October 02, 2012, 10:07:14 AM

Quote from: labestiol on October 02, 2012, 09:18:49 AM

Anyone knows him ?
Enky1974 > How did you get to be a beta tester ? Did they asked for testers in this forum ?

I know kakobrekla personally, that's all, i was glad to test it.

Ok, I hope you had a nice relationship, becauseit will be over as soon as this scam goes down the drain.

Just think about this:

Lets say I got 1000 BTC in total.
I put 900 BTC in a SELL order at 20$ at MtGox.
Then I fire up my 1:1000 account on BTC4x.com with the remaining 100 BTC. I execute a BUY order for 100k BTC
--> price shoots up to 20.02$! on MtGox (if all 100k BTC were to be bought there)
My 900 BTC were justsold for 20$ each (63% profit). I could completely loose my 100 BTC on btc4x.com now and still pocket a huge instant gain (I probably wouldnt loose much because price would rally up to somewhere below 20$, so I could still sell at a small loss, or execute an insane SELL order to play the game in reverse).

you execute a buy order for 100k btc?

more then likely btc4x.com would be a bucket shop setup. they only buy and sell on an exchange when needed.
so if the above scenario actually happened it is highly doubtful that btc4x.com would react in any shape or form.

bitcoinica was a bucket shop in most aspects.

forgive me for my ignorance. I know nothing about advanced trading. Was your answer a yes or a no?

my question is: is it now possible to execute a buy order on mtgox for 100k btc when you only have 100btc?

it appears, no. you cannot.
you might as well just deposit USD into the account. at least there is a traceable record of it. unlike btc where you send
it into a possible blackhole and no one cares since it is bitcoin. i dont count the blockchain as traceable in the equation as
a court will not really give a damn. unlike USD where they are used to it.

sippsnapp

sr. member

Activity: 322

Merit: 250

Quote from: Spekulatius on October 02, 2012, 11:43:22 AM

Can anybody clear this up by confirming that NO trading on BTC/* currency pairs is happening on bit4x.com?
That you can only deposit and withdraw in BTC but cannot actually trade on any bitcoin markets with your leverage?

Just think for a minute, this would have been announced big time, at least on bitcointalk, zerohedge, bloomberg, businessinsider, wsj....
And if its introduced, why only by one broker that nobody ever heard of and with a leverage from 1:1000.
Its a wet dream to trade btc vs other currencies like eur/usd on leverage but surely we will have to wait and there should be pre announcements when if/its introduced.

kakobrekla

hero member

Activity: 714

Merit: 500

Psi laju, karavani prolaze.

Quote from: Spekulatius on October 02, 2012, 11:43:22 AM

Can anybody clear this up by confirming that NO trading on BTC/* currency pairs is happening on bit4x.com?
That you can only deposit and withdraw in BTC but cannot actually trade on any bitcoin markets with your leverage?

Correct, see trade example http://btctrading.wordpress.com/2012/10/01/714/

Spekulatius

legendary

Activity: 1022

Merit: 1000

Can anybody clear this up by confirming that NO trading on BTC/* currency pairs is happening on bit4x.com?
That you can only deposit and withdraw in BTC but cannot actually trade on any bitcoin markets with your leverage?

kentrolla

hero member

Activity: 1540

Merit: 564

Eloncoin.org - Mars, here we come!

Quote from: fcmatt on October 02, 2012, 11:34:22 AM

Quote from: kentrolla on October 02, 2012, 11:11:05 AM

Quote from: Spekulatius on October 02, 2012, 10:15:14 AM

Quote from: Enky1974 on October 02, 2012, 10:07:14 AM

Quote from: labestiol on October 02, 2012, 09:18:49 AM

Anyone knows him ?
Enky1974 > How did you get to be a beta tester ? Did they asked for testers in this forum ?

I know kakobrekla personally, that's all, i was glad to test it.

Ok, I hope you had a nice relationship, becauseit will be over as soon as this scam goes down the drain.

Just think about this:

Lets say I got 1000 BTC in total.
I put 900 BTC in a SELL order at 20$ at MtGox.
Then I fire up my 1:1000 account on BTC4x.com with the remaining 100 BTC. I execute a BUY order for 100k BTC
--> price shoots up to 20.02$! on MtGox (if all 100k BTC were to be bought there)
My 900 BTC were justsold for 20$ each (63% profit). I could completely loose my 100 BTC on btc4x.com now and still pocket a huge instant gain (I probably wouldnt loose much because price would rally up to somewhere below 20$, so I could still sell at a small loss, or execute an insane SELL order to play the game in reverse).

you execute a buy order for 100k btc?

more then likely btc4x.com would be a bucket shop setup. they only buy and sell on an exchange when needed.
so if the above scenario actually happened it is highly doubtful that btc4x.com would react in any shape or form.

bitcoinica was a bucket shop in most aspects.

forgive me for my ignorance. I know nothing about advanced trading. Was your answer a yes or a no?

my question is: is it now possible to execute a buy order on mtgox for 100k btc when you only have 100btc?

notme

legendary

Activity: 1904

Merit: 1002

From my reading of things, they only let you trade currencies and metals. The bitcoin is for margin only.

fcmatt

legendary

Activity: 2072

Merit: 1001

Quote from: kentrolla on October 02, 2012, 11:11:05 AM

Quote from: Spekulatius on October 02, 2012, 10:15:14 AM

Quote from: Enky1974 on October 02, 2012, 10:07:14 AM

Quote from: labestiol on October 02, 2012, 09:18:49 AM

Anyone knows him ?
Enky1974 > How did you get to be a beta tester ? Did they asked for testers in this forum ?

I know kakobrekla personally, that's all, i was glad to test it.

Ok, I hope you had a nice relationship, becauseit will be over as soon as this scam goes down the drain.

Just think about this:

Lets say I got 1000 BTC in total.
I put 900 BTC in a SELL order at 20$ at MtGox.
Then I fire up my 1:1000 account on BTC4x.com with the remaining 100 BTC. I execute a BUY order for 100k BTC
--> price shoots up to 20.02$! on MtGox (if all 100k BTC were to be bought there)
My 900 BTC were justsold for 20$ each (63% profit). I could completely loose my 100 BTC on btc4x.com now and still pocket a huge instant gain (I probably wouldnt loose much because price would rally up to somewhere below 20$, so I could still sell at a small loss, or execute an insane SELL order to play the game in reverse).

you execute a buy order for 100k btc?

more then likely btc4x.com would be a bucket shop setup. they only buy and sell on an exchange when needed.
so if the above scenario actually happened it is highly doubtful that btc4x.com would react in any shape or form.

bitcoinica was a bucket shop in most aspects.

kentrolla

hero member

Activity: 1540

Merit: 564

Eloncoin.org - Mars, here we come!

Quote from: Spekulatius on October 02, 2012, 10:15:14 AM

Quote from: Enky1974 on October 02, 2012, 10:07:14 AM

Quote from: labestiol on October 02, 2012, 09:18:49 AM

Anyone knows him ?
Enky1974 > How did you get to be a beta tester ? Did they asked for testers in this forum ?

I know kakobrekla personally, that's all, i was glad to test it.

Ok, I hope you had a nice relationship, becauseit will be over as soon as this scam goes down the drain.

Just think about this:

Lets say I got 1000 BTC in total.
I put 900 BTC in a SELL order at 20$ at MtGox.
Then I fire up my 1:1000 account on BTC4x.com with the remaining 100 BTC. I execute a BUY order for 100k BTC
--> price shoots up to 20.02$! on MtGox (if all 100k BTC were to be bought there)
My 900 BTC were justsold for 20$ each (63% profit). I could completely loose my 100 BTC on btc4x.com now and still pocket a huge instant gain (I probably wouldnt loose much because price would rally up to somewhere below 20$, so I could still sell at a small loss, or execute an insane SELL order to play the game in reverse).

you execute a buy order for 100k btc?

Enky1974

sr. member

Activity: 254

Merit: 250

Quote from: sippsnapp on October 02, 2012, 10:22:52 AM

You hold the account in bitcoin, no btc cross trading on leverage, cant imagine that in th enext 5 years.

+1

sippsnapp

sr. member

Activity: 322

Merit: 250

Spekulatius

legendary

Activity: 1022

Merit: 1000

Quote from: Enky1974 on October 02, 2012, 10:07:14 AM

Quote from: labestiol on October 02, 2012, 09:18:49 AM

Anyone knows him ?
Enky1974 > How did you get to be a beta tester ? Did they asked for testers in this forum ?

I know kakobrekla personally, that's all, i was glad to test it.

Ok, I hope you had a nice relationship, becauseit will be over as soon as this scam goes down the drain.

Just think about this:

Lets say I got 1000 BTC in total.
I put 900 BTC in a SELL order at 20$ at MtGox.
Then I fire up my 1:1000 account on Bit4x.com with the remaining 100 BTC. I execute a BUY order for 100k BTC
--> price shoots up to 20.02$! on MtGox (if all 100k BTC were to be bought there)
My 900 BTC were justsold for 20$ each (63% profit). I could completely loose my 100 BTC on bit4x.com now and still pocket a huge instant gain (I probably wouldnt loose much because price would rally up to somewhere below 20$, so I could still sell at a small loss, or execute an insane SELL order to play the game in reverse).

Enky1974

sr. member

Activity: 254

Merit: 250

Quote from: labestiol on October 02, 2012, 09:18:49 AM

Anyone knows him ?
Enky1974 > How did you get to be a beta tester ? Did they asked for testers in this forum ?

I know kakobrekla personally, that's all, i was glad to test it.

Spekulatius

legendary

Activity: 1022

Merit: 1000

No it must be legit, just think:

If I or any group of people deposited 21001 BTC and went long or short with 1:1000 leverage, guess what?
They would have to buy/sell more bitcoins then will ever be in existance. Grin

You see? Hang on..

DannyM

sr. member

Activity: 275

Merit: 250

Quote from: labestiol on October 02, 2012, 09:18:49 AM

Quote

Yes, your Bitcoin deposits are never converted into fiat or any other form and are always kept safe in encrypted cold storage by kakobrekla, a well known member of Bitcoin OTC.

Anyone knows him ?
Enky1974 > How did you get to be a beta tester ? Did they asked for testers in this forum ?

Would be so nice if it was a quality (with MT4), legit service.

Yes kakobrekla is a sharp and thoughtful guy.

Topic: [NEWS] Bit4x.com - First FOREX accepts bitcoin! - 1:1000 Leverage!!! - page 8. (Read 49924 times)