Trading Financial markets : BITCOIN as an alternative to regular currency

Long, short, Bitcoin, forex - Plenty of alternate market disuccsion.
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Euler
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Sat Jun 09, 2018 8:33 am

‘Bitcoin whales’ control third of market with $37.5bn holdings

Wealth in nascent cryptocurrency concentrated in mystery group of 1,600 investors

https://www.ft.com/content/c4b68aec-6b2 ... 230fa67aec

Data from Chainalysis, a blockchain research company, seen by the Financial Times showed that in April this year, there were some 1,600 bitcoin “wallets” — the digital stores held by individual users — containing at least 1,000 bitcoin each.

Just under 100 wallets contained between 10,000 and 100,000 bitcoin, roughly worth between $75m and $750m at today’s prices.

That the bitcoin market is so tightly held stands at odds with bitcoin’s mission to democratise finance by setting up an alternative monetary systemfree of central bank control and open to all. It also brings risks for smaller speculators.

However, by April 2018, the data showed the amount held by long-term investors, at about 6m bitcoin, was much closer to matching the amount held by short-term speculators, with 5.1m bitcoin.

Chainalysis estimated that many longer-term holders sold at least $30bn worth of bitcoin to new speculators over the December to April period, with half of this movement taking place in December alone.

“This was an exceptional transfer of wealth and conditions for it to occur again are unlikely to form again soon,” said Mr Gradwell.

Experts also warn there are opportunities particularly for larger players to engage in market manipulation owing to the lack of regulation and the existence of informal over-the-counter markets.

“A number of these larger holders do communicate with each other, they know [each other], they take stock of market activity,” said Dr Garrick Hileman, head of research at Blockchain and co-founder of Mosaic.io, a platform for market intelligence on crypto.

Zenyatta
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Joined: Thu Mar 11, 2010 4:17 pm

Sun Jun 24, 2018 7:03 am

$6K threshold finally breached, let's see how far it can fall...

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Euler
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Fri Jun 29, 2018 8:35 am

Feel significant that it couldn't hold above $6k

Ginger8585
Posts: 11
Joined: Wed Nov 16, 2016 10:09 pm

Fri Jun 29, 2018 8:48 am

Euler wrote:
Sat Jun 09, 2018 8:33 am
‘Bitcoin whales’ control third of market with $37.5bn holdings

Wealth in nascent cryptocurrency concentrated in mystery group of 1,600 investors

https://www.ft.com/content/c4b68aec-6b2 ... 230fa67aec

Data from Chainalysis, a blockchain research company, seen by the Financial Times showed that in April this year, there were some 1,600 bitcoin “wallets” — the digital stores held by individual users — containing at least 1,000 bitcoin each.

Just under 100 wallets contained between 10,000 and 100,000 bitcoin, roughly worth between $75m and $750m at today’s prices.

That the bitcoin market is so tightly held stands at odds with bitcoin’s mission to democratise finance by setting up an alternative monetary systemfree of central bank control and open to all. It also brings risks for smaller speculators.

However, by April 2018, the data showed the amount held by long-term investors, at about 6m bitcoin, was much closer to matching the amount held by short-term speculators, with 5.1m bitcoin.

Chainalysis estimated that many longer-term holders sold at least $30bn worth of bitcoin to new speculators over the December to April period, with half of this movement taking place in December alone.

“This was an exceptional transfer of wealth and conditions for it to occur again are unlikely to form again soon,” said Mr Gradwell.

Experts also warn there are opportunities particularly for larger players to engage in market manipulation owing to the lack of regulation and the existence of informal over-the-counter markets.

“A number of these larger holders do communicate with each other, they know [each other], they take stock of market activity,” said Dr Garrick Hileman, head of research at Blockchain and co-founder of Mosaic.io, a platform for market intelligence on crypto.

Im currently setting up a brokerage/pool service and we have been involved in the OTC side of things... there is ALOT of very large transactions going on the behind the scenes. unfortunately its only retail invetsors who seem to drive the price at the moment and they havent the liquidity or the sentiment to drive it the direction we need/want.

and theres definitley massive manipulation going on to supress the price whilst this accumatltion takes place. interestingly just enough to keep it above mining costs.

G20 said regs due in Q2... cant wait, desperately needed

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Euler
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Sun Oct 21, 2018 10:05 am

The Prophets of Cryptocurrency Survey the Boom and Bust

Inside the ongoing argument over whether Bitcoin, Ethereum, and the blockchain are transforming the world.

https://www.newyorker.com/magazine/2018 ... m-and-bust

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wearthefoxhat
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Joined: Sun Feb 18, 2018 9:55 am

Sun Oct 21, 2018 10:51 am

Euler wrote:
Sun Oct 21, 2018 10:05 am
The Prophets of Cryptocurrency Survey the Boom and Bust

Inside the ongoing argument over whether Bitcoin, Ethereum, and the blockchain are transforming the world.

https://www.newyorker.com/magazine/2018 ... m-and-bust
Thanks for link.

I got into Bitcoin more for the "investment" reasons rather than how to use it as an alternative to fiat currency. That would of been a by-product if the rise had continued in the same way it did in 2017. :roll:

I have a 1000 day mining contract where the mining warehouse is based in Iceland-Reykavik. Even though it's mining "dust" on a daily basis, its' success is underpinned on how high the Bitcoin ends up on the 1000th day. I have projected the figures based on it's current mining performance and if the Bitcoin price is the same as it was on the day the contract was agreed, then the initial investment doubles. (subject to capital gains tax).

I don't have any plans to travel the world using Bitcoin as my understanding on how to use it daily is limited, when I get to cash out the contract, the rules and regulations may have changed again!

ec0n0mist
Posts: 79
Joined: Mon Dec 29, 2014 5:17 pm

Wed Nov 14, 2018 5:19 pm

I'm surprised it's so muted in this corner given that a very significant support level for BTC just got breached.
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PDC
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Mon Nov 19, 2018 7:06 pm

There goes $5,000 and taking Nvidia with it, I hope Euler got out while the going was good as the last week or so has been brutal.

Management at Nvidia has screwed up, inventory is in a mess, built up 70% in the last 9 months, revenue decline expected next quarter, woof!

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Naffman
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Mon Nov 19, 2018 7:33 pm

The furry animals tipping advice is almost as good as his share/crypto tips :P

Think he'll be licking his paws after doing his nuts in the crypto exchange Digitex :P
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Euler
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Mon Nov 19, 2018 8:42 pm

PDC wrote:
Mon Nov 19, 2018 7:06 pm
There goes $5,000 and taking Nvidia with it, I hope Euler got out while the going was good as the last week or so has been brutal.

Management at Nvidia has screwed up, inventory is in a mess, built up 70% in the last 9 months, revenue decline expected next quarter, woof!
I always sell into strength. The future is inheritably uncertain so why not sell when everybody wants to buy. ;)

I'm a deep contrarian, but the only problem with that is if somebody shouts 'fire' I'd probably run towards it!!!!

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