BITCOIN as an alternative to regular currency

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switesh
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Joined: Mon Jul 11, 2011 8:43 am

Euler wrote:Trading platforms are springing up now for Bitcoin exchanges

https://rtbtc.com/
And they don't accept payment in bitcoins neither.

Clever people ;) (Also, smart enough not to leave their phone number lying around the website)



Came across this text from wikipedia:
In May 2013, one bitcoin traded at around $125. Taking into account the total number of bitcoins mined, the value of the money supply of the bitcoin network stands at over $1.4 billion USD.

According to Reuters, undisclosed documents indicate that banks such as Morgan Stanley and Goldman Sachs have visited Bitcoin exchanges as often as 30 times a day. Employees of international banks and major financial organizations have shown interest in the Bitcoin markets as well.


Well, if you're going to be trading bitcoins you now know who the market makers (manipulators) are.


That leaves very little to imagination. I can already visualize what a bank's balance-sheet will look like in the future:

Assets
┌∩┐(◣_◢)┌∩┐ Bitcoins

Liabilities
(◣_◢) Sub-prime Loans

Equity
┌∩┐ ┌∩┐
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Euler
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steven1976
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Just sounds like B room all over it.
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superfrank
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Bitcoin breaks $300; has tripled in "value" since August.

'wish I'd have converted lots more paper now!

http://www.zerohedge.com/news/2013-11-0 ... e-currency

“Paper money eventually returns to its intrinsic value – zero.” (Voltaire, 1694-1778)
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Euler
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Bit coin break $1000 bubble bubble bubble

http://www.bbc.co.uk/news/technology-25120731
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Euler
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Search for hard drive with £4m-worth of bitcoins stored

http://www.bbc.co.uk/news/uk-wales-sout ... s-25134289
Zenyatta
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I wonder what you pro-traders (Peter, mugsgame, etc.) think of Bitcoin?

I may not be the smartest trader on the block here, but even for me, the words that spring to mind here are; 'craze', 'bubble', 'ponzi' , 'price spike'. I mean if you'd got in really early (circa 2009) you'd have made a fortune, but the 'trend' has surely gone way too far and its due for a major correction by now?

Look at the graph:
http://www.economist.com/news/leaders/2 ... ow-bitcoin

Big red flag: everyone wants to get on the bandwagon and everyone is yelling what a great opportunity this is! Surely that's precisely the time you should be selling, not buying?
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Euler
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I was on a conference call last night where we were discussing how we could benefit from a collapse in the price of Bit Coins. If it were a really currency you would want its value to be stable, but at the moment its a completely speculative instrument and the more is rises the more people will pile into it, until it looks like it will break and then everybody will be heading for the door. But when is the question!
herbie
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Joined: Mon May 11, 2009 8:56 pm

http://www.zerohedge.com/news/2013-11-2 ... -more-gold

It seems like bitcoins has now got to the place it was going.
We will see now when stocks crash if the world and his dog buys gold or bitcoins.
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Euler
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Mental!

Image
herbie
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and dont forget the little brothers Litecoin verses silver...now wheres that pick and shovel :geek:
RideTheLightning
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http://www.youtube.com/watch?v=qHUPPYzzZrI

Bitcoin's growth measured in 'S Curve' perpesctive.
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Euler
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http://www.plus500.co.uk/Instruments/BTCUSD

One provider of CFD's to short BitCoin, don't know much about them though.
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jimrobo
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how long before we see bitcoin futures???
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Euler
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If they had options I'd definitely get stuck into some long term shorts.
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