Search content
Sort by

Showing 20 of 28 results by bV
Post
Topic
Board Service Discussion
Re: Question about submitting coins to ANACS
by
bV
on 17/09/2014, 20:44:59 UTC
awesome, gonna send mine in next week then. ty
Post
Topic
Board Service Discussion
Re: Question about submitting coins to ANACS
by
bV
on 16/09/2014, 19:26:25 UTC
saw you selling some graded coins on another post. did you end up sending these in the airtite cases?
Post
Topic
Board Goods
Re: [WTS] Graded 2013 1 BTC 1oz silver w/ gold plating MS65
by
bV
on 04/04/2014, 01:16:44 UTC
coin is backwards in the case?
Post
Topic
Board Collectibles
Re: [WTS] 2011 & 2013 1 BTC Casascius coins
by
bV
on 02/04/2014, 22:28:56 UTC
bump for beautiful collection.  I'd like to get my coins graded, how did you fill out the submission form?
Post
Topic
Board Project Development
Re: [BOUNTY] 0.15 BTC per transcript of LetsTalkBitcoin
by
bV
on 02/01/2014, 09:33:06 UTC
Quote
E48 – Cypherpunks and Globetrotting 52:29 Transcription by bV - proofread by Kluge 1bVectorBnXrdSB2p3mhv6tG5c1eTHG9i (not yet paid)
Post
Topic
Board Project Development
Re: [BOUNTY] 0.15 BTC per transcript of LetsTalkBitcoin
by
bV
on 05/12/2013, 04:48:55 UTC
not sure if this was missed, didnt see it quoted anywhere or updated on the list

I have finished episode 48

http://www.scribd.com/doc/187677456/Let-s-Talk-Bitcoin-Episode-48-Cypherpunks-and-Globetrotting

 BTC1bVectorBnXrdSB2p3mhv6tG5c1eTHG9i
Post
Topic
Board Project Development
Re: [BOUNTY] 0.15 BTC per transcript of LetsTalkBitcoin
by
bV
on 28/11/2013, 00:24:32 UTC
I have finished episode 48

http://www.scribd.com/doc/187677456/Let-s-Talk-Bitcoin-Episode-48-Cypherpunks-and-Globetrotting

 BTC1bVectorBnXrdSB2p3mhv6tG5c1eTHG9i
Post
Topic
Board Goods
Re: [WTS] Google Glass
by
bV
on 27/11/2013, 21:17:02 UTC
what color?
Post
Topic
Board Marketplace
Re: FREE 240GH when ordering a KnC Neptune
by
bV
on 27/11/2013, 20:55:14 UTC
page still says 'orders opening soon' for me and neptune isnt listed on the products page. am I taking crazy pills?
Post
Topic
Board Goods
Re: Google Glass - Explorer Edition in Hand!
by
bV
on 27/11/2013, 20:37:35 UTC
You keep using that word. I don't think it means what you think it means.
Post
Topic
Board Project Development
Re: [BOUNTY] 0.15 BTC per transcript of LetsTalkBitcoin
by
bV
on 23/11/2013, 08:11:51 UTC
could I reserve:
E48 – Cypherpunks and Globetrotting
Post
Topic
Board Trading Discussion
Re: icbit.se refusing to release funds
by
bV
on 11/04/2013, 22:30:49 UTC
An official comment:

With the situation at Mt.Gox, we are unable to manage risks in full as the spot price is basically unknown. Margin requirements were temporary increased, so withdrawal requests which would normally be processed are pending now (because otherwise they may not be able to sustain payout requirements of a BTC/USD-4.13 contract due to settle in a couple of days).

We have to care about both sides of the market, and will gladly reduce margin requirements as soon as the market stabilizes (at least opens).

How can you temporarily increase the margin call? I do not understand how you can decide to change the agreement without us also agreeing to the change? We willing put so much up for risk, and yet you are deciding we are forced to risk more than we agreed upon when we first purchased the futures contract. This isn't how you conduct business.

This exchange has a track record of arbitrarily changing the rules as it sees fit. They are not contracts in the eyes of this exchange, but just words written on a webpage that they can disregard as they see fit.

They are also manipulating trade ranges essentially devaluing the market as they see fit instead of allowing people to sell down to what they deem as its valuation. Just today they manually adjusted the price down $130, without allowing for selling on the way down. Locking the price closer to spot without allowing trades in between is not just unfair, its outright theft. It is in direct breech of contract which states the maximum move per trading session is 10%.

Just this week they agreed not to do manual clearing, instead relying on more frequent scheduled clearing, which they have disregarded as well. Having a trading session of only 6 minutes, this is a new low even for them.
Post
Topic
Board Altcoin Discussion
Re: Ripple Giveaway!
by
bV
on 08/04/2013, 18:03:14 UTC
rPE9dw1gR8ravY2o25zudXmj2L28UTNt4D
Post
Topic
Board Altcoin Discussion
Re: Ripple Giveaway!
by
bV
on 06/04/2013, 18:43:51 UTC
plz2send rPE9dw1gR8ravY2o25zudXmj2L28UTNt4D
Post
Topic
Board Service Discussion
Re: *Unofficial* ICBIT (BTC Futures Trading) - Help & FAQ's
by
bV
on 05/04/2013, 17:18:56 UTC
RANGE

Another feature of the contract format is the use of trading range controls, an upper and lower limit on each instrument beyond which trading cannot occur within the current (24hr) session.  The range for the session is set during clearing as the latest trade price plus or minus 10%, so if the last trade price was 100 at clearing, the range for the following session will be set to 90 - 110.

This appears to be a safety feature to prevent exceptional price swings, and limits risk exposure to traders, however the rapid appreciation of bitcoin has on many occasions led to prices quickly reaching threshold levels, resulting at times in cessation of trade as no-one is prepared to sell within session range threshold.

This is patently false. The trading range SHOULD provide safety to the trader, but on multiple occasions the admin of the site has performed a 'manual clearing' that reset the prices so that trading could drop far below the 10% maximum in 24 hours. This happened due to market manipulation that drove the price down to 75 briefly from 94 (similar to what happened a couple days ago). The spot price quickly returned to normal, but the admin removed the trading range protection, and caused loss of many positions and forced margin selling on lot of traders. This has resulted in a great loss to many traders, who are still trying to get the admin to repay at least the considerable amount of fees that went into opening these positions that were unfairly closed.

This all happened BEFORE the admin added the arbitrary manual clearing clause to the futures description.
Post
Topic
Board Project Development
Re: ICBIT Derivatives Market (USD/BTC futures trading) - LIVE
by
bV
on 01/04/2013, 18:32:17 UTC
I want to stress one specific fact, which clearly separates honest and dishonest behavior:
If an additional clearing followed by margin calls happened WITHOUT spot market movement into the same direction (or even worse, into different direction), then it's clearly an abuse.
If the spot market moves and additional clearing is done to adapt to changed conditions (and direction of futures price change corresponds to the spot market price change), then there is no dishonest behavior involved.

I would disagree with this point, but note that I used the word deceptive and not dishonest. Though I do believe that you have something to gain by doing a manual clearing in that the exchange has reduced risk (this should not be disregarded, as risk is used as a financial instrument), my main point is that the trading range on the site and the definition of a trading session led many users to believe that they would at least have some time to react to >10% market moves.

It was grossly negligent on your part to implement this risk management solution without redefining a trading session and giving everyone with a contract notice and opportunity to object. Honestly, I still don't believe you should be able to do so without everyone's permission that is still in a contract with you. A trading session should not be defined outside the contract to begin with. This is a material part of the contract that was (and still is) omitted.

While I believe that negligence caused the entire loss that I endured, I don't think it would be realistic to hold you accountable for the entire realized loss for the contracts. I'm actually not sure what would be fair in this case, and I'm open to suggestions from the community, but at the very least the fees should be returned or credited towards future volume.
Post
Topic
Board Project Development
Re: ICBIT Derivatives Market (USD/BTC futures trading) - LIVE
by
bV
on 30/03/2013, 22:59:35 UTC
it all depends on how you define overleveraged. I was not overleveraged adhering to the rules set forth by the exchange, which is my point
Post
Topic
Board Project Development
Re: ICBIT Derivatives Market (USD/BTC futures trading) - LIVE
by
bV
on 30/03/2013, 21:27:19 UTC
bV, you bought two weeks contract above 100 and the spot price fall to 75 - what other than forced closing of such positions you expected? Huh

Force closing only occurs if you do not have funds to cover the losses over dips. The advertised trading range per session is 10%, and I had enough funds to cover any dips in that range. Furthermore, I did not purchase most of those contracts above 100, that is the price they moved to, and your position moves to whatever the price is at each clearing. I had additional funds in my offline wallet, and would gladly have funded the account further to prevent closing of positions, but unfortunately the manual clearing was completely unexpected and gave no opportunity to do so.
Post
Topic
Board Project Development
Re: ICBIT Derivatives Market (USD/BTC futures trading) - LIVE
by
bV
on 30/03/2013, 20:46:06 UTC
currently, the additional clearings are a scam.

I wouldn't go so far as to say that it is a scam, but I believe it is at the very least deceptive practice and I would go so far as to say that it is a breech of contract.  The text on the site defined a trading session is 24 hours, with a maximum trading range of 10%. Fireball, could you provide the original text that was on the site before you updated so that it can be considered? 

I had contracts of BUJ3 with enough money in reserve to handle 10% movement, and had my finger on the button to add additional funds if the clearing proved to move the price down to a range that might put some of my contracts in jeopardy.  The clearing actually moved the price range center from 103 to 106, so I did not add additional funds. The manual clearing I believe moved the price range center to 95, causing a loss of a very large portion of my positions as the price went down to 86. I've since closed all of my positions at a great loss to myself as I've lost all confidence that this site will perform as it says it will without making things up as they go.

I feel that this manual clearing should not have happened according to the definitions laid out on the site at the time. I feel that the exchange did this as a CYA disregarding the fact this is not a provision set forth and agreed upon with its customers. Some sort of compensation is due.
Post
Topic
Board Beginners & Help
Re: Please approve account
by
bV
on 30/03/2013, 01:09:41 UTC
What do you want to say about icbit? Can you give a preview here?

Yes, the issue that occurred yesterday was that the trading session was manually cleared about two hours after the normally scheduled 20:00 clearing. The trading sessions are supposed to last 24 hours, but with this manual clearing, the price was allowed to go way beyond the supposed 10% daily trading range.  I had 10% of my coins in reserve so that none of my positions would be closed if the worst case scenario happened (bottom of the trading range was hit). I was logged into the site and ready to send additional funds if the trading range moved into a position where my positions would be at jeopardy. After the normally scheduled clearing, I did my math and confirmed I was in the clear. Two hours later, the admin of the site manually cleared again, so that he wouldnt have to assume any risk to himself for the drastic movements of the spot price (when it went down to 75/80 for a couple hours). The 10% I had in reserve was no longer sufficient to cover my losses at this new trading range, and over 40% of my positions were forcefully closed (sold at very unfavorable prices). The site has since changed its text describing what a 'trading session' is, and claims to reserve the right to do manual clearing as it sees fit. I feel that this manual clearing cost me over 15BTC in my positions and trading fees, and want to get the community's input on how this was handled.