I'm the founder of Bitcoinica. It has been featured by Hacker News,
Famous first words, ZT introducing Bitcoinica
this isn't actually quite as good news as you may think it wasComing events cast their shadows before them
a couple of days ago finally got out of the nightmare scenario of being trapped in a large high $5s base price long position on Bitcoinica which would have been fine as my ZT price was in the $2s originally & I was happy to wait long term & could have kept it at 1:1 leverage np, until that was he unilaterally decided to start taxing long positions with swap charges, to me this is just Bitcoin wild west no rules rule - I'm waiting to see if his stated registration goes through because once it does I intend to claim back that swap money just removed from my account by changing without notice the conditions under which it was deposited & making my position long term untenable so that I had to close it for a big loss as I believe this sort of action is totally illegitimate in any jurisdiction
anyone else who's suffered because of this pse to let me know & we can coordinate to recuperate this blatant rip off with damages also for overall position loss if it hadn't happened once we were locked in
it's so nice atm to finally be out of that & tomorrow off for a long weekend without having to follow every price movement & the feeling of having trusted way too much money to someone who just makes the rules up to suit themselves as they go along, honestly I was amazed to get anything back out at all in that scenario - never again!
anyone else who's suffered because of this pse to let me know & we can coordinate to recuperate this blatant rip off with damages also for overall position loss if it hadn't happened once we were locked in
it's so nice atm to finally be out of that & tomorrow off for a long weekend without having to follow every price movement & the feeling of having trusted way too much money to someone who just makes the rules up to suit themselves as they go along, honestly I was amazed to get anything back out at all in that scenario - never again!
We can offer a refund if you were charged any swap for a position that you established before the rule change provided there is no new positions established after that. By continue using our service, you have already signaled the acceptance of the new rule.
Well this seems a good a time as any to claim your offer on this, yes I would like to be refunded for all swaps that I was charged on positions that I had before the rule change, you know what they are
Secondly I do not accept that by trying to get out of my position means that I accept your arbitrary change in the terms of service under which I deposited money with you, it is illegal for you to do so, therefor I hold you personally responsible along with any partners & new owners for the full amount of the swaps charged to me plus having to then liquidate my untenable position that you put me in, total loss getting on for $5,000
I was waiting for your registration to go through before pursuing this & then left it for a while so you could recover from the Linode hack but now events show it needs to be dealt with asap, so kindly confirm that you will stand by your word & refund what I have lost due to your actions
Many thanks, karma as I'm sure you are appreciating doesn't go away, it comes around & stronger each time until a just restitution is made, your call
Well Zhou Tong are you planning to honor your public pledge to refund me or are you not, I would really like to know - it won't just go away if you ignore it, instead it will escalate & follow you for the rest of your career & life, I'm asking you now for the third time & PMing this to you now as well.
Thanks,
Otoh