$280. Druff panic sold at the exact bottom!Originally Posted by snake_in_the_ass
$280. Druff panic sold at the exact bottom!
Not quite. Exact bottom was $159.$280. Druff panic sold at the exact bottom!
I only had 1.04 BTC, so I wasn't standing to gain a lot even in a rebound like this. I figured it was more likely to crash below 100 than to recover to 300, so I sold.
I must admit that I am perplexed by this rebound. We will see if this rebound differs from the rest we've had since May, where basically bitcoin never settles higher than it was before it started declining. It was in the low 300s before the decline started, so if it settles at 350 or so, then it will be the first time it has appreciated in like 9 months.
What did you buy at??
I am pretty sure this is what is driving BTC back up...going live in a few hours!!! http://techcrunch.com/2015/01/25/coi...coin-exchange/
Coinbase Is Opening The First Regulated Bitcoin Exchange In The U.S.
Posted 1 hour ago by Jon Russell (@jonrussell)
Fresh from scoring a massive $75 million funding round, bitcoin payment firm Coinbase has revealed that it will open the first regulated bitcoin exchange in the U.S. on Monday.
The company, which added the New York Stock Exchange and USAA to its list of investors last week, told the Wall Street Journal that it has “regulatory approval” in half of all states, including significant areas like New York and California. (The New York Department of Financial Services has been very vocal in its call for regulation via a proposed ‘BitLicense’.)
Coinbase already offers exchange services in 19 countries overseas, and it said that its work accruing necessary licenses and approvals in the U.S. took five months. The company will only be able to offer services to customers that sign up in states were it is approved, but there are plans to gain approval in further states.
Exchanges made via the Coinbase service will include a 0.25 percent commission fee that goes to Coinbase, although the company is giving customers two months of free trades to get things going.
The exact legality of bitcoin in the U.S. has been unclear for some time, so Coinbase’s news — and regulatory backing — is a significant mark in the sand.
The busting of Silk Road, an underground market for illicit goods where bitcoin’s anonymity made it a popular payment option, has doubtless eased some early opinions that bitcoin’s modus operandi was financing nefarious activity, but there’s still plenty of uncertainty about it as a digital currency. The price of a single bitcoin dropped as low as $185 this month — it is currently $263, but crossed $1,000 in 2013 — and it is unclear whether it has reached relative stability.
As for the Coinbase business itself, CEO Brian Armstrong is keen to explore the potential of bitcoin in emerging markets, and wants the company to expand its reach to at least 30 countries overall by the end of 2015.
Coinbase had a huge year in 2014, and its achievements included landing several big name retail partners — who began accepting bitcoin for the first time — including Overstock, Dell, Square, Mozilla and Wikipedia.
PS: Did you know we just started a TechCrunch bitcoin podcast? Check it out here — the latest episode is actually about Coinbase and its monster $75 million round.
Last edited by Forum Wars; 01-25-2015 at 09:52 PM.
-- Newly regulated site "legitimizes" a former black/grey market
-- Basically "free" of fees for first 2 mos. or so
-- They have regulatory approval in half of U.S. states, including large population centers such as New York and California
Hmmmm...what other industry does this sound like?
Remember, however, this is the exchange that people were getting questions and possibly their accounts blocked when Coinbase believed it was for gambling purposes...so this might not be the silver bullet for our intended uses.
Wait, so you can use Coinbase without fees for 2 months if you had an existing account, or only new accounts?
Dunno, Druff...I was pretty surprised to see this too...Wait have you already used them? (I know you talked about them on Radio) I thought they were going "live" in the USA tomorrow, but were only avail. in other countries up until now...
Was reading in the Wall Street Journal last Friday about the Winklvii close to approval with their exchange, Gemini.
What continues to strike me is the approval process leads you through Lawsky and New York Financial Services (the BitLicense crew).
The likelihood of regulation increases with each approach like Coinbase and now Gemini.
Western Union, PayPal, Bitcoin and all the rest will be tested. The irony is that the approval of these exchange may be just the thing that takes the heat out of Bitcoin - or the opposite.
Depends on your point of view. Is BTC speculation or something with actual utility?
The rise to $280 is funny. The psychology of "gosh, Bitcoin looks good - it has rebounded strong." Look at Belly Busters post. It is behaving exactly as a speculative bubble should thus answering the above question.
The Winklevoss brothers' coming exchange (again, regulated) does look interesting. Here's some more depth of their plans...
http://www.theverge.com/2015/1/23/78...tcoin-exchange
Basically have the unbeatable security and make Bitcoins FDIC insured (why not, they're regulated!!!)
And yeah, that Bellybuster chart is so spot on...
Unbeatable security. I remember a facepalm when I saw the resume of the lead security programmer. Last from the fashion industry or some unremarkable biz.
They are writing their exchange engine from scratch. Hmmm.
These two have been dicking around for years trying to get something online. Just a little late boys.
url?
"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
also 'unbeatable security' is basically a bullseye at this point.
"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
No url. I buy paper copy couple times a week and those pricks want a subscription for their articles. It was definitely Friday if you to find a way into that article.url?
I am betting you hack in.
They got the wrong types of bars in jail.
"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
Honestly at this point I have no idea what this means but Id expect one could turn a tidy profit by riding this publicity up a few ticks before dumping.
Virtual currency bitcoin is starting to get its act together. A startup funded with $106 million from the New York Stock Exchange as well as banks and venture capital firms, is set to launch the first licensed US bitcoin exchange. Coinbase reckons it'll add increased security to traders as well as monitor real-time pricing of the world's foremost cryptocurrency. If you've forgotten, unlike normal currencies, bitcoin is traded virtually and isn't backed by a central government: reasons why the currency often fluctuates severely. The collapse of Mt. Gox last year stung investors, both professional and otherwise, for a total sum of around half a billion dollars. As the WSJ notes, the value of a bitcoin is currently around $240: it was stood at $1,200 per 'coin.
The startup's founders have managed to gain licenses from half of the states' financial regulators, including (importantly) both New York and California. The exchange can only do business in the states in which it's gained approval, taking 0.25 percent from most transactions, with the first two months charge-free. The exchange already has 2.2 million "wallets" on file, and plans to operate in 30 countries by the end of the year - it's already set up in 19 of them.
Meanwhile, Gemini (backed by the Winklevoss twins), has claimed support from an as-yet unnamed New York bank. The legitimacy of Bitcoin is on the increase, but for those of you hoping that the value of Bitcoins will evaporate into nothing and you'll never have to read about them again -- well, it's not looking good.
"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
Looks like it corrected itself back down to the 230s.
So once again, Bitcoin fails to stabilize at a level higher than it was prior to a decline.
Or, simply put, it has been steadily declining since May 2014.
Yeah I hate that I missed that bounce. Most of all because I dont know how many are left.
"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 noticed that IG now takes spread bets on bitcoin price with a $0.03 spread.
Pretty shrewd move because it allows you to easily take a short position as well as a long position. Also you don't have to fag about with the pesky coins themselves.
Sanlmar what's your thoughts on this.
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Buying physical coins is not the way to trade. You are correct.
IG is the parent of Nadex. Yanks are excluded from IG and are led to Nadex.
I gambled Bitcoin using binaries on Nadex. Your losses cannot exceed investment. Frankly, I lost interest in trading Bitcoin. For me, trading this thing short term has been impossible for me to read. On the flip side the swings are insane and with a little margin you could be partying with Prince William in no time.
IG is famous for CFD's - contract for difference. You get to play with margin and obv risk is greater (reward is greater too Obv). CFD's are unique compared to Forex as they never expire.
I understand CFD's have some tax advantage for you blokes. I don't know why. Just what I hear.
I don't know your experience trading commodities. If you like puzzles and getting immersed in something new that will forever after give you insight into trading - I urge you to setup a demo account (play money) and experiment with binaries as they are pretty simple.
I urge you to learn a little candlestick charting. Japanese Candlestick Charting Techniques by Steve Nison. I don't have a read on belly Buster's nerd index but I found the whole business absolutely fascinating. I think there is Candlestick Charting for Dummies - prolly a lot of other stuff has come out since I started.
Curious your level of interest and just how big a wonk you are for learning stuff like this?
Bottom line = IG demo account!!!!
Last edited by Sanlmar; 01-29-2015 at 07:10 PM.
Bitcoin took a $10 haircut $225-->> $215 on big sales last half hour.
It was slammed to $210 and snapped back to $215
Whassup? Preet, is that you?
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