Post
Topic
Board Speculation
Re: How many of you have been Zhoutonged?
by
cypherdoc
on 21/12/2011, 02:15:00 UTC
Let me get this correct... So when the price spiked up and people were trading on Mt.Gox at $4.5,  Zhoutong's genius matching algorithm put the buy price at a $1 spread and force liquidate people's position at $4.9 Huh??  Angry

So when all these forced buy bitcoins are actually bought in Mt.Gox market at any price around $4.1-4.5, the all difference goes into Bitcoinica's pocket?

I've been Zhoutonged good!!!

Can you send an email to support@bitcoinica.com about this? We'd like to compensate you on this.

While it's true that our algorithm sets the price by balancing and predicting the benefit and the risk, after all the trading, there's no point of predicting, and we can clearly see that the prediction was wrong. So we are perfectly okay to refund you the "unexpected profit" we made from you.

I hope this explanation makes sense.

to be honest, i don't see any explanation as to why or how you determined "unexpected profits".