Trading Financial markets : BITCOIN as an alternative to regular currency

Long, short, Bitcoin, forex - Plenty of alternate market disuccsion.
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marksmeets302
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Mon Feb 05, 2018 8:33 pm

bitcoin future is now ... 1320! Coinmarketcap still reports 7K. Maybe it's lagging. S&P down 2.5% and the Vix shot up to 35. I *love* it

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Euler
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Mon Feb 05, 2018 8:59 pm

I have a VIX position that I've held for ages.

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marksmeets302
Posts: 505
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Mon Feb 05, 2018 9:14 pm

marksmeets302 wrote:
Mon Feb 05, 2018 8:33 pm
bitcoin future is now ... 1320! Coinmarketcap still reports 7K. Maybe it's lagging. S&P down 2.5% and the Vix shot up to 35. I *love* it
edit: it's still 7K in the future as well.

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marksmeets302
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Mon Feb 05, 2018 9:15 pm

Euler wrote:
Mon Feb 05, 2018 8:59 pm
I have a VIX position that I've held for ages.
Congratulations, that position is probably paying off today!

I'm long vix as well, through options I use as a tail risk protection for my short volatility. Problem is... nobody wants to buy them from me :-) Guess I'll have to wait until expiration in two weeks. Hopefully the vix will remain high.

Zenyatta
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Tue Feb 06, 2018 6:37 am

Euler wrote:
Mon Feb 05, 2018 3:42 pm
Getting close to 7k now, down 60%+ from highs. Watch some ICO's double down or give up because of this.
Down to 6K now. Two economists calculated the value of bitcoin based on actual use as a currency (minus all the speculation and trading). They found the 'true value' of Bitcoin to be $US 20. Still has a long long way to fall :twisted:

https://www.businessinsider.com.au/2-ec ... ?r=US&IR=T

Shardhhajain23
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Mon Mar 05, 2018 6:39 am

Bitcoins are completely virtual coins designed to be ‘self-contained’ for their value, with no need for banks to move and store the money.

Once you own bitcoins, they possess value and trade just as if they were nuggets of gold in your pocket. You can use your bitcoins to purchase goods and services online, or you can tuck them away and hope that their value increases over the years. Bitcoins are traded from one personal 'wallet' to another.

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ShaunWhite
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Mon Mar 05, 2018 12:54 pm

Aside from crypto being utterly impractical, the idea that institutions and governments will give up control of the flow of money is pure fantasy. When in the course of history has anyone ever given up an advantageous situation without a fight? The powers that be won't even assure equality of opportunity within the current system. Crypto fans seem to be economic and technological idealists rather than students of history, politics or human nature.

Crypto is in essence the same fiscal framework as was being promoted by the Anarchist parties in the 1970s....that did well didn't it.

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Euler
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Thu Mar 29, 2018 10:28 pm

Today's Low - $7,016.53

Zenyatta
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Fri Mar 30, 2018 2:47 am

Euler wrote:
Thu Mar 29, 2018 10:28 pm
Today's Low - $7,016.53
Well, prices had actually recovered somewhat for a couple of months there, but now it's deflated back to the earlier lows again (heading to $6K again). I think that last spike was probably it's 'last gasp' and it's all down-hill from here. This time the whole crypto-currency market is deflating as well and all the other alt-coins are taking an even worse beating.

https://coinmarketcap.com/

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wearthefoxhat
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Sat Mar 31, 2018 8:59 am

It's highly likely the price will remain low/lower due to 2 factors I'm aware of;

1. The Mount Gox trustee selling 200,000+ bitcoin to pay off creditors. (recently halted until September as the market continued to drop, they want better prices)

2. The Bulgarian government selling off their seized 200,000+ bitcoin to pay off 20-25% of their national debt.

No doubt increasing regulation (a good thing overall) will impact new ICO's in the short/mid term.

Once all this gets rinsed through, then buying back in, is a fair strategy. Just a question of monitoring events.

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