Strongly disagree.
You should take voices into account according to margin ballance.
So you should rerun poll at your site.
Topic: Vote for Bitcoinica Leverage Change Proposal - page 4. (Read 4503 times)
It is still possible to game this by creating multiple accounts and doing a coordinated trade.
Bitcoinica is doomed.
Bitcoinica is doomed.
We allow that. At least that will split forced liquidation to multiple orders at different prices.
If someone deliberately do a coordinated trade to maintain identical base prices, then it's their choice. We just want to make losing money a bit harder and less impactful even when it happens.
It is still possible to game this by creating multiple accounts and doing a coordinated trade.
Bitcoinica is doomed.
Bitcoinica is doomed.
One word: sockpuppets.
EDIT:
The poll hasn't ended yet. But we have started a trial. Unless the poll results reverse, we will keep this change.
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Public Proposal: Change of Leverage Options.
Due to recent volatility, a lot of traders were forced liquidated and caused a snowball effect: forced liquidation causes more forced liquidations due to excessive market movements.
Also, we want to make sure that Bitcoinica always has reserves for traders. We hope the asterisk will not appear frequently in the future.
Therefore, I propose a solution to such problems. Since this solution may negatively impact some of our customers, we want to hear the voice of the public. This is how the implementation will be decided:
If Agree > Disagree, we will implement this change. If Disagree > Agree, we will not implement this change and we will consider other options.
Neutral votes will be ignored at the moment.
If you have better ideas, please voice out and we will consider.
So what's the change?
-------------------------
If your margin balance is less than $2,000 (inc.), you can set leverage to 10:1, 5:1, 2.5:1 and 1:1.
If your margin balance is between $2,000 (exc.) and $20,000 (inc.), you can set leverage to 5:1, 2.5:1 and 1:1.
If your margin balance is greater than $20,000 (exc.), you can set leverage to 2.5:1 and 1:1.
This is to protect our customers' interest and maintain market volatility at low levels by preventing huge forced liquidations as much as possible. Also, less funds will be used up by large clients so we will have more available reserves.
Now, please vote!
The poll hasn't ended yet. But we have started a trial. Unless the poll results reverse, we will keep this change.
---
Public Proposal: Change of Leverage Options.
Due to recent volatility, a lot of traders were forced liquidated and caused a snowball effect: forced liquidation causes more forced liquidations due to excessive market movements.
Also, we want to make sure that Bitcoinica always has reserves for traders. We hope the asterisk will not appear frequently in the future.
Therefore, I propose a solution to such problems. Since this solution may negatively impact some of our customers, we want to hear the voice of the public. This is how the implementation will be decided:
If Agree > Disagree, we will implement this change. If Disagree > Agree, we will not implement this change and we will consider other options.
Neutral votes will be ignored at the moment.
If you have better ideas, please voice out and we will consider.
So what's the change?
-------------------------
If your margin balance is less than $2,000 (inc.), you can set leverage to 10:1, 5:1, 2.5:1 and 1:1.
If your margin balance is between $2,000 (exc.) and $20,000 (inc.), you can set leverage to 5:1, 2.5:1 and 1:1.
If your margin balance is greater than $20,000 (exc.), you can set leverage to 2.5:1 and 1:1.
This is to protect our customers' interest and maintain market volatility at low levels by preventing huge forced liquidations as much as possible. Also, less funds will be used up by large clients so we will have more available reserves.
Now, please vote!
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