Price of BTC up like 5% to $474...WHY?? Don't understand it, it's sluggish as fook and the developers are dropping the ball.
Price of BTC up like 5% to $474...WHY?? Don't understand it, it's sluggish as fook and the developers are dropping the ball.
BALLIN'!!
summertime
kids are out of school. Need to order pot. demand for coins goes up.
Originally Posted by Starbucks Spunk Bucket
Imo, google swift+bank+hack
Plus no big btc sites have been hacked lately and there is a new silk road kicking ass on tor. It's a cycle tho, once the latest silk road vanishes with 8 figures of btc deposits or another exchange gets gutted, expect another soul crushing drop.
"Birds born in a cage think flying is an illness." - Alejandro Jodorowsky
"America is not so much a nightmare as a non-dream. The American non-dream is precisely a move to wipe the dream out of existence. The dream is a spontaneous happening and therefore dangerous to a control system set up by the non-dreamers." -- William S. Burroughs
A new SR is popular? *Maybe being run from a prison. *I don't get how your average Charlie gets hurt big time when a site turns sour. *Transactions are very quick and there's no reason to have a large number of BC's in your(hypothetically)*account. *I guess the vendors are the victims of these thefts and they'll probably find a way to recoup.
Imo, google swift+bank+hack
Plus no big btc sites have been hacked lately and there is a new silk road kicking ass on tor. It's a cycle tho, once the latest silk road vanishes with 8 figures of btc deposits or another exchange gets gutted, expect another soul crushing drop.
The internet should be running for pres.
Perhaps this news contributed to this price spike, b/c a functioning BTC derivative market could drive up speculative demand.
CFTC Grants Full Registration to Bitcoin Swaps Trading Platform
http://www.coindesk.com/us-swap-plat...stration-cftc/
_____________________________________________
Upswings are at night during asian trading hours.Perhaps this news contributed to this price spike, b/c a functioning BTC derivative market could drive up speculative demand.
CFTC Grants Full Registration to Bitcoin Swaps Trading Platform
http://www.coindesk.com/us-swap-plat...stration-cftc/
If anyone believes that this has anything to do with dark markets, don't.
I see what you are saying. Chinese volume has exploded.Upswings are at night during asian trading hours.
If anyone believes that this has anything to do with dark markets, don't.
_____________________________________________
Wow... $498.
Though I think a downswing might be coming if it hits $500.
I kinda want to sit on my BTC now and wait to see where this goes, though.
I'm sitting on 22 of them right now.
Value went up $600 for me in past 2 days.
In short form can some one explain how to get bitcoin for personal reasons as well as poker.
Simplifying the complicated is a form of intelligence, so tine and mumbles please don't post.
Now at 509!!!!
Well, it's up to $520.
Glad I didn't sell.
There was an analysis last month stating that $518 is the "real" price of BTC, despite it being around $450 at the time.
That's kinda on my mind right now.
I'm trying to figure out the right time to let this go. Should I just take my $1200 or so profit? Should I try to Micon this into riches?
Okay, the latter won't happen, but maybe this could be a big spike up and I don't want to just bail out because it's hopped up 16%.
go to coinbase.com
sign up for an account.
Give them banking info (although I think they can use cards now)
once account is verified you can buy coins.. Through bank draft it takes about a week but the price is frozen for you at the moment of transaction so its possibly your value will go up (and yes possibly down) when you finally receive your BTC. I bought some for ACR deposit and actually ended up with more value when it cleared.
statistically speaking, dumping now would be apropos.
"Birds born in a cage think flying is an illness." - Alejandro Jodorowsky
"America is not so much a nightmare as a non-dream. The American non-dream is precisely a move to wipe the dream out of existence. The dream is a spontaneous happening and therefore dangerous to a control system set up by the non-dreamers." -- William S. Burroughs
It's not going "to the moon" any time soon and imo it's not worth anywhere near $500 a coin
BALLIN'!!
Thank you..
go to coinbase.com
sign up for an account.
Give them banking info (although I think they can use cards now)
once account is verified you can buy coins.. Through bank draft it takes about a week but the price is frozen for you at the moment of transaction so its possibly your value will go up (and yes possibly down) when you finally receive your BTC. I bought some for ACR deposit and actually ended up with more value when it cleared.
Doing now..
It's not going "to the moon" any time soon and imo it's not worth anywhere near $500 a coin
thisville.
it might moon but if it does, congrats on your 5th street 1 outter.
"Birds born in a cage think flying is an illness." - Alejandro Jodorowsky
"America is not so much a nightmare as a non-dream. The American non-dream is precisely a move to wipe the dream out of existence. The dream is a spontaneous happening and therefore dangerous to a control system set up by the non-dreamers." -- William S. Burroughs
I found out about circle.com from a user on this site. Easiest way to buy and cash out btc. setup a account and you can buy and cashout bitcoins today with a credit or debit card.Thank you..
Doing now..
Analysisstatistically speaking, dumping now would be apropos.
Instead of thinking about only the statistics of a single asset, finance theory suggests thinking about how an asset contributes to the overall risk and reward profile of your portfolio. For example, if Sonatine is correct in previously stating that Chinese investors believe BTC is attractive when the Chinese stock market looks weak, BTC has a negatively correlated expected return versus Chinese stocks.
And because of a positive expected correlation across global equities, it is likely that BTC provides some counter-cyclical protection against a falling global stock market. And even if BTC has a negative expected return, its likelihood to provide positive returns in a falling stock market means that it has value as a *component* of an overall portfolio. Optimally, it's likely to be relatively small component, say 1.0%, but necessarily greater than 0.0%.
And if Druff's assets are worth $1,000,000, his holding roughly $10,000 in BTC is likely to be a reasonable component allocation of his portfolio wealth in BTC, as that would be about 1.0% of his portfolio.
With that perspective, it probably would be wise for Druff to sell about 10-15% of his BTC now since the proportionsal value of his bitcoin exposure has risen by about that percentage more than the rest of his portfolio. The term for such an action in portfolio management is "rebalancing", which investors often fail to undertake when a particular asset class has done very well versus others because they mistakenly assume that prior performance they personally experienced will continue into the future.
Recommended action: Sell 10% of BTC holdings at earliest convenience.
Last edited by MumblesBadly; 05-29-2016 at 05:30 AM. Reason: Typos: "0.1%"
_____________________________________________
If you think Bitcoin traffic in China is due mostly to Ponzi schemes or stupid speculation, perhaps you should think again.
Ex-Citi Trader's Bitcoin Exchange Skirts Currency Curbs
http://www.bloomberg.com/news/articl...bcomANews=true
Key passages:
In summary, BTC is currently the cryptocurrency of choose for mainland Chinese to diversify their wealth away from China. And demand for that diversification appears to be quite robust. It follows that mainland Chinese BTC exchanges are going to dominate the market for BTC, which the trading volume currently clearly shows.Bitcoin Mercantile Exchange has already turned profitable
Exchange lets investors take synthetic positions in stocks
It was after Arthur Hayes got laid off from Citigroup Inc. in 2013 that he stumbled across one of the simplest ways to make money he’d ever seen. He was living in Hong Kong and saw the price of bitcoin across the China border was much higher. He hopped on a bus, opened a China account and started buying low in one market and selling high in the other. “It was too easy,” he says.
The price discrepancy eventually disappeared, but it gave him an idea: He could make more money if he gave others the means to take advantage of similar trading opportunities between countries. So in early 2014, he started the Bitcoin Mercantile Exchange with two friends. The mission is to create an institution like the Chicago Mercantile Exchange that will let people use the cryptocurrency to bet on securities not easily accessible in their home markets, especially China.
China restricts the ability of companies and individuals to exchange their yuan for other currencies, part of the government’s strategy for managing its economy. That can make it complicated and expensive for citizens to invest in overseas securities, while foreign investors face restrictions in trading China stocks. Hayes’ idea is to let Chinese investors use bitcoin to buy synthetic versions of offshore stocks that would normally be off-limits, like Apple or Facebook. Conversely, foreign investors could effectively short a basket of the country’s shares not typically exposed to such strategies.
“Our goal is to let anyone bet on anything at any time,” says Hayes, an American who is now 30 and works in Hong Kong.
BitMEX doesn’t sell bitcoin itself. Rather, traders go to sites like Coinbase or Kraken to exchange their money for the cryptocurrency. Then, they can open an account with BitMEX, deposit the bitcoin and use that money to trade. Investors don’t buy stocks themselves, rather they pay in bitcoin for derivatives, or contracts designed to simulate stocks or indexes. Any profits or losses are calculated in the customer’s BitMEX account, and they can withdraw the proceeds to convert back to cash when they choose.
Hayes and his co-founders face enormous challenges in making their vision a reality. China has closed loopholes its citizens use to move money abroad and it could do the same with bitcoin. BitMEX doesn’t have a license to market to Chinese investors and is relying on the government’s so-far permissive approach to continue. At the same time, the cryptocurrency is losing some appeal because of price volatility and infighting within the bitcoin community. There are also dozens of alternative virtual currency exchanges, including some like Beijing-based BTCC that have larger trading volumes.
Still, BitMEX is making progress, aided by the size of the Chinese market and Hayes’ experience in designing complex financial contracts. So far, 5,800 users have traded $760 million on the exchange. The company is already profitable, a rarity among startups. Hayes also said he’s not wedded to bitcoin and would let people use other digital currencies if they prefer.
“BitMEX has established itself as one of the early derivatives exchanges in cryptocurrency and is benefiting from the proximity to the Chinese market as well as founder Arthur Hayes’ experience in derivative trading,” said Gil Luria, head of technology research at Wedbush Securities Inc.
Last month, BitMEX took first place among 475 startups at a competition in Singapore hosted by the technology blog Tech in Asia. Hayes and his partners are now seeking to raise $2 million to expand the financial products they can offer. They want a partner who can help distribute their products to retail Chinese clients or an established derivatives exchange to give them access to institutional traders. “Profitability gives us flexibility in who and how we take funding,” said Hays, adding they have turned down offers.
William Bao Bean, a China venture investor, said BitMEX’s timing is fortuitous. Investors in the country are looking to diversify abroad as the economy slows and domestic investments become more unpredictable. “There are many people who want to see their money outside of China right now,” said Bean, a former Deutsche Bank investment banker who runs a program for startups called Chinaccelerator.
_____________________________________________
There are currently 4 users browsing this thread. (0 members and 4 guests)
Reply With Quote
