Quite right.
Topic: The Bitcoin Trading Group (Read 4389 times)
All,
Thank you initial traders for participating in the program. We are ending the first cycle early and there will be no immediate subsequent investment cycles.
For those who participated, your bitcoin are now worth 20.8% more in your base currency. Since our only viable trade is to sell bitcoin for dollars and bitcoin has appreciated against the dollar during the entire cycle, no trade was taken.
In the future we may re-create the investment program in a different format. For now, please revoke all API keys related to this program.
Thank you once again
BTG
Thank you initial traders for participating in the program. We are ending the first cycle early and there will be no immediate subsequent investment cycles.
For those who participated, your bitcoin are now worth 20.8% more in your base currency. Since our only viable trade is to sell bitcoin for dollars and bitcoin has appreciated against the dollar during the entire cycle, no trade was taken.
In the future we may re-create the investment program in a different format. For now, please revoke all API keys related to this program.
Thank you once again
BTG
In the future we may re-create the investment program in a different format. For now, please revoke all API keys related to this program.
Given the volatility of bitcoin prices, I really believe there must be a market for a service that manages bitcoin holdings. Will look forward to any future programs that you might offer.
All,
Thank you initial traders for participating in the program. We are ending the first cycle early and there will be no immediate subsequent investment cycles.
For those who participated, your bitcoin are now worth 20.8% more in your base currency. Since our only viable trade is to sell bitcoin for dollars and bitcoin has appreciated against the dollar during the entire cycle, no trade was taken.
In the future we may re-create the investment program in a different format. For now, please revoke all API keys related to this program.
Thank you once again
BTG
Thank you initial traders for participating in the program. We are ending the first cycle early and there will be no immediate subsequent investment cycles.
For those who participated, your bitcoin are now worth 20.8% more in your base currency. Since our only viable trade is to sell bitcoin for dollars and bitcoin has appreciated against the dollar during the entire cycle, no trade was taken.
In the future we may re-create the investment program in a different format. For now, please revoke all API keys related to this program.
Thank you once again
BTG
Just for the record, FX, my commentary was more objective and anecdotal to the trade biz than your venture personally. Indeed, from my limited viewing of your material, you seem legit and sincere and I applaud your efforts.
All,
Thank you initial traders for participating in the program. We are ending the first cycle early and there will be no immediate subsequent investment cycles.
For those who participated, your bitcoin are now worth 20.8% more in your base currency. Since our only viable trade is to sell bitcoin for dollars and bitcoin has appreciated against the dollar during the entire cycle, no trade was taken.
In the future we may re-create the investment program in a different format. For now, please revoke all API keys related to this program.
Thank you once again
BTG
Thank you initial traders for participating in the program. We are ending the first cycle early and there will be no immediate subsequent investment cycles.
For those who participated, your bitcoin are now worth 20.8% more in your base currency. Since our only viable trade is to sell bitcoin for dollars and bitcoin has appreciated against the dollar during the entire cycle, no trade was taken.
In the future we may re-create the investment program in a different format. For now, please revoke all API keys related to this program.
Thank you once again
BTG
Wait wait wait hold on.
How do we know you're not just going to take everyone's bitcoins and sell them at a low price to yourself or something? I'm surprised everyone's so eager to join this group.
How do we know you're not just going to take everyone's bitcoins and sell them at a low price to yourself or something? I'm surprised everyone's so eager to join this group.
To directly answer your question: you have no way of knowing. However, since I only earn a profit when you earn a profit, my interests are aligned with your interests.
A bigger picture is front-running and market-moving, as a function of volume.
This consortium is practically an inevitable phenomenon in the Bitcoin trade biz.
The need, always, is for healthy competition.
Otherwise it's just a game between market-moving and suckers.
In the last few hours there was an easy recognizable 15% raise followed by a 10% fall.
http://bitcoincharts.com/charts/mtgoxUSD#rg2zvztgSzm1g10zm2g25zxzi1gMACDzi2gRSI
Why didn't you trade those?
http://bitcoincharts.com/charts/mtgoxUSD#rg2zvztgSzm1g10zm2g25zxzi1gMACDzi2gRSI
Why didn't you trade those?
Timeframe, volume, and slippage.
In the last few hours there was an easy recognizable 15% raise followed by a 10% fall.
http://bitcoincharts.com/charts/mtgoxUSD#rg2zvztgSzm1g10zm2g25zxzi1gMACDzi2gRSI
Why didn't you trade those?
http://bitcoincharts.com/charts/mtgoxUSD#rg2zvztgSzm1g10zm2g25zxzi1gMACDzi2gRSI
Why didn't you trade those?
What are your working (trading) hours like? 9-5, Monday to Friday? 24x7? Profitable opportunities could show up at any time in this market.
I'm always looking for opportunities so I have an eye on it outside of a fixed schedule.
Profitable opportunities are almost always present but I don't chase them. I try to only enter trades with a high probability of success.
What are your working (trading) hours like? 9-5, Monday to Friday? 24x7? Profitable opportunities could show up at any time in this market.
Wait wait wait hold on.
How do we know you're not just going to take everyone's bitcoins and sell them at a low price to yourself or something? I'm surprised everyone's so eager to join this group.
How do we know you're not just going to take everyone's bitcoins and sell them at a low price to yourself or something? I'm surprised everyone's so eager to join this group.
That's not how markets work. He could sell them, but it would be to whoever has the best bid price. So they only way he could sell them to himself is if he was paying the prevailing market rate.
Wait wait wait hold on.
How do we know you're not just going to take everyone's bitcoins and sell them at a low price to yourself or something? I'm surprised everyone's so eager to join this group.
How do we know you're not just going to take everyone's bitcoins and sell them at a low price to yourself or something? I'm surprised everyone's so eager to join this group.
To directly answer your question: you have no way of knowing. However, since I only earn a profit when you earn a profit, my interests are aligned with your interests.
When the first cicle starts?
L.
L.
The first cycle has begun.
Wait wait wait hold on.
How do we know you're not just going to take everyone's bitcoins and sell them at a low price to yourself or something? I'm surprised everyone's so eager to join this group.
How do we know you're not just going to take everyone's bitcoins and sell them at a low price to yourself or something? I'm surprised everyone's so eager to join this group.
When the first cicle starts?
L.
L.
Signed up for the first cycle.
2. The mimic part is run through a program created by a prominent developer in the bitcoin community. Basically the software gets an account balance of all the individuals who are participating in the program and lets me know how much bitcoin or USD I'm trading. When I enter a trade, it divides the quantity I am trading out to all the accounts which are participating based on a percentage ownership.
Example - I have 3 customers. Two customers have 10 bitcoin, and one has 100 bitcoin for a total of 120 bitcoin under management. I enter a trade to sell 60 bitcoin. The first two customers with 10 bitcoin each have an 8.33% stake while the large customer has an 83.33% stake. My order is divided proportionately so the two customers each sell 5 bitcoin while the larger customer sells 50 bitcoin. The percent gain or loss I make on this trade will be mimicked across every account.
Example - I have 3 customers. Two customers have 10 bitcoin, and one has 100 bitcoin for a total of 120 bitcoin under management. I enter a trade to sell 60 bitcoin. The first two customers with 10 bitcoin each have an 8.33% stake while the large customer has an 83.33% stake. My order is divided proportionately so the two customers each sell 5 bitcoin while the larger customer sells 50 bitcoin. The percent gain or loss I make on this trade will be mimicked across every account.
Another question. If the amount you control across all accounts starts to become fairly large, the gains/losses experienced by each account will start showing differences, since you can't enter and exit the market at exactly the same price on all accounts (buying driving the price up, for example). Accounts where the order is placed first may have the advantage. How do you distribute this gain/loss across customers?
My way of mitigating liquidity risk:
1. My orders are broken among all the accounts. If I say sell 1,000 bitcoin, every account will sell their share of the bitcoin depending on their share of the overall master account.
2. Depth of market: I utilize the current depth of market to avoid price spikes and slippage. If I sell 1,000 I ensure that there is sufficient liquidity to absorb my trade.
What happens if I add/withdraw funds or even trade while you are at the trading phase? Just asking.
At this stage, I will more than likely just remove that account from participation until the next cycle. If I have a position on and the account holder disagrees with it and sells out, at the end of the cycle, there could be a debate of who actually generated any profit or loss.
So, this means that I cannot add or withdraw BTC during a cycle right? I assume the length of a cycle depends on the market conditions? How long do you typically expect these cycles to last?
Yes, I would highly prefer it if you did not add or withdraw during a cycle. It is your BTC and you may do what you wish with your coin. The issue for me is for profit and loss reporting. If I make a trade and you disagree with my trade and exit out of it, at the end of the cycle there can be a debate as to who actually made the profit in your account.
A typical cycle will be about 1 week to 1 month. It depends on the volume and volatility in the market.
2. The mimic part is run through a program created by a prominent developer in the bitcoin community. Basically the software gets an account balance of all the individuals who are participating in the program and lets me know how much bitcoin or USD I'm trading. When I enter a trade, it divides the quantity I am trading out to all the accounts which are participating based on a percentage ownership.
Example - I have 3 customers. Two customers have 10 bitcoin, and one has 100 bitcoin for a total of 120 bitcoin under management. I enter a trade to sell 60 bitcoin. The first two customers with 10 bitcoin each have an 8.33% stake while the large customer has an 83.33% stake. My order is divided proportionately so the two customers each sell 5 bitcoin while the larger customer sells 50 bitcoin. The percent gain or loss I make on this trade will be mimicked across every account.
Example - I have 3 customers. Two customers have 10 bitcoin, and one has 100 bitcoin for a total of 120 bitcoin under management. I enter a trade to sell 60 bitcoin. The first two customers with 10 bitcoin each have an 8.33% stake while the large customer has an 83.33% stake. My order is divided proportionately so the two customers each sell 5 bitcoin while the larger customer sells 50 bitcoin. The percent gain or loss I make on this trade will be mimicked across every account.
Another question. If the amount you control across all accounts starts to become fairly large, the gains/losses experienced by each account will start showing differences, since you can't enter and exit the market at exactly the same price on all accounts (buying driving the price up, for example). Accounts where the order is placed first may have the advantage. How do you distribute this gain/loss across customers?
What happens if I add/withdraw funds or even trade while you are at the trading phase? Just asking.
At this stage, I will more than likely just remove that account from participation until the next cycle. If I have a position on and the account holder disagrees with it and sells out, at the end of the cycle, there could be a debate of who actually generated any profit or loss.
So, this means that I cannot add or withdraw BTC during a cycle right? I assume the length of a cycle depends on the market conditions? How long do you typically expect these cycles to last?
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