Bitcoin - cryptocurrency?

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DV52

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^^^ Jack: I'm not aware that anyone has as yet developed a futures market for Bitcoins yet. Sounds like a once-in-a-lifetime opportunity for "Jack's Derivatives Inc" ( a subsidiary company of VWemporium) to hit the NY stock Exchange! Likely you will either be a very wealthy man, or it will be a very short trip to Chapter 7 - but hell, it's bound to be a fun journey -either way!!;)


Don
 
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Jack@European_Parts

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Oh no....... ;)

Bitcoin skyrockets above $7,000 for the first time

[url]http://www.msn.com/en-us/money/markets/bitcoin-skyrockets-above-dollar7000-for-the-first-time/ar-AAulvCi?li=BBmkt5R&ocid=ientp[/URL]
The digital currency bitcoin rocketed above $7,000 for the first time Thursday after a more than sevenfold increase in its value since the start of the year.
Bitcoin has seen eye-watering gains in recent months and has more than doubled in value in the past seven weeks alone. It hit as high as $7,066.44 on the Luxembourg-based Bitstamp exchange Thursday.
The latest rally was driven by news earlier this week that the world's largest derivatives exchange operator CME Group is to launch bitcoin futures.
The price move takes bitcoin's aggregate value, or "market cap" -- its price multiplied by the number of bitcoins released into circulation -- to more than $117 billion, according to industry website Coinmarketcap.
The aggregate value of all cryptocurrencies is now at a record high of over $190 billion, the website said.
 
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DV52

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dv52 calling Jack@european_Parts!!

Jack: Thought you might be interested in the latest Bitcoin price compared to US CPI and the Dow.




Had I been a US citizen in 2009 and had I purchased 1 bit-coin (which was then worth less than 1 cent), that initial investment would have grown 15,000 times!! Damn I wish that I had filled-out those citizenship papers!! :facepalm:

But it seems that almost all bitcoin trades happen in China! What do the Chinese know that the west doesn't know?

Might be time to get-in before the hoarders?

Don
 
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Blazs_A4ABC

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dv52 calling Jack@european_Parts!!

But it seems that almost all bitcoin trades happen in China! What do the Chinese know that the west doesn't know?

Don
China has the biggest BTC mining farms, so that's where most transactions happened. That is, until lately, when China started to ban bitcoin ICOs and other cryptocurrencies. To make their own, controlled version of it.

Betting on something like a 1-cent investment will worth over 6000 USD in just a couple of years is as irrational as one not wondering: who is interested to give more and more dollars for the same unit of BTC that gets more and more attention from the authorities and rumors are that the banning wave will continue among far Eastern countries (Russia is also planning to put payments and ICOs under strict control).

Btw this value of BTC is extremely volatile. Moving just a couple of thousand BTCs in a short time could start a price swing.
 
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Blazs_A4ABC

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That didn't take too long...

http://www.reuters.com/article/us-g...over-1000-in-less-than-48-hours-idUSKBN1DA1L9

I'm not a finance expert or a big risk taker (apart from being a TSI owner with worn piston rings), but IMO
* Running away from losses by hopping between coins is like when drunk people tripping in their own feet and deciding to outrun themselves as they lean forward,
* Hard forks in coins is mutiny, destroying trust in rules.
 
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^^^^ Naarh.... perfectly sensible strategy for managing risk for those lazy millions of real dollars that we all have tucked-away in our sock draw at home!! In trading terms it's called a "basis hedge" - take a position in another currency (if you believe that either of these products are currencies) to offset the risk of loss in the Bitcoin market. Taking a position in the Bitcoin Cash exchange also provides the opportunity for arbitrage across the two markets if the spread gets too large!

Where's Jack and his new futures exchange for Bitcoins?

Don
 
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^^^ vreihen: There is a simple trick to this stuff which I'm willing to share only with cashed-up forum colleagues - but please don't tell this secret to anyone else

cryptocurrency is exactly the same as every other market - the natural order of things doesn't differ because this is a digital commodity: for every "fool" that looses dollars there is someone who makes dollars! There is nothing difficult about deciding which side of this transaction is the more beneficial!

trade often and trade big!!!

Don
 
   #33  

Jack@European_Parts

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Hard to trade cars I find at the auction, especially when no bidders are in the lanes............. :banghead:

"No volume" means epic fail is coming your way in either direction ................that is my rule......& I never deviate from it!

Dude around the corner folded up like a lawn chair Thursday .........but what do I know. I'm just an asshole in chicken and gravy Montgomery NY?

I think Don will agree with me.......can't trade often or in large blocks if the market maker ear marks your shit and then proceeds to trade right through you......oh and because you were a bigger asshole than me with "conditional orders".

If the ends justify the means, I break it up when trading to get it done!

Fuck Bitcoin........
 
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Blazs_A4ABC

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Just because it's a zero sum game from the participants point of view, it is still very harmful for others... Just look at GPU mining, a modern Klondike, causing VGA makers to give up competition....

Or a historical lesson about something like this... :facepalm:

It's a bit similar to a Schrödinger's cat situation. Just even looking at it changes what's inside, so people just buy it and convince themselves that it was the right choice as both outcomes is there until no one's peeking.
 
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Bitcoin- Death of the owner?

For all those crypto-currency savvy investors who bought when the price was low (Jack?)- congratulations your investment is now worth a massive $17350.01 USD per coin!!

The first derivative of the historic price curve for Bitcoins is now so steep that it is starting to rival the tulip bulb mania of the 17th Century!

But the growth of crypto-currencies and the value of each coin raises the question of what happens when the owner dies? In a real-life example, fortune magazine writes:

fortune said:
A young man died suddenly in Colorado this year, leaving his family the burden of sorting out his estate. Little did they know their loved one had been investing in Bitcoin, the digital currency that cost as little as $13 in 2013 and recently climbed as high as $5,000.

The grieving family stood to inherit a small fortune—that is, if they could only find and access the cryptocurrency.
http://fortune.com/2017/09/26/cryptocurrency-bitcoin-death/

moral of the story= make sure you plan for your digital investment in your estate - before the grim reaper calls!!

Don
 
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^^^ Jack: That's entirely the wrong way to think about a commodity with this type of historic price performance. It's an opportunity lost - it's not a "pile....."!! ;)

Anyhow - if you don't like direct investment in Bitcoin, then perhaps you might see value in a form of "derivative" - and we Melbourne-ites are the first to offer this product:

ASX (Aust. Security Exchange) said:
After months of delays, Australian bitcoin company Bitcoin Group will finally make its share market debut in February.

The Melbourne-based company is the first cryoptocurrency miner in the world to offer shares through an initial public offering, which opened on December 24.

It is offering investors 100 million shares at 20 cents each to raise $20 million in the IPO, which closes on January 25.
Read more: http://www.afr.com/technology/bitcoin-group-to-finally-list-on-asx-20160113-gm5040#ixzz50zCUXDQo

And if you don't like the ASX traded commodity, there is always the heady world of "Futures" - no one has yet developed a futures market for Bitcoins, so the opportunity for a market-maker is ripe for the taking!! In the current environment, this particular crypto-currency has what traders call a "contango" (look it up) forward price curve.

The legendary Jack-millions can become billions if you want!!! :D

Don
 
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^^^ hmm........... excellent - always good when someone in a market wants to "put their shorts on"!! All that's needed now is to find someone to take the opposite position and we have a new market for cryptocurrency futures.

No good looking down here for a buyer to your position - with the AUD/USD exchange rate being in the toilet!

Don
 
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