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Dwolla is based in Des Moines. Also, Mt Gox is sleazy and marginally incompetent... The worst possible CENTRALIZATION of Bitcoin. Mt Gox will face the same fate as Full Tilt Poker = disappear overnight... And BTC Ecosystem will be better off without these assholes... That use the...

After 15 years of trading on the NYSE... I've been trading BTC as a sideline for about 3 weeks... and it's a BLAST. Things like overlays depend on the currency... But I've seen many overlays in the $5-10 range in CAD... So if you have accounts on several exchanges... You will be arbing a...

Actually, that may well be the difference between trailing and future revenues. If it's not... there is not much point getting involved in these exchanges. I specifically pointed to a detailed, realistic 11 page model... Which only a few smart lurkers noticed... And why I have a policy =...

In what remote sense is GOX a "normal business"? I run and evaluate a 7 figure business on a daily basis... As opposed to you jacking off online about a 25% bump in BTC.

I'm not really interested in what GOX is making... Or what their issues are in the Japanese business culture. I've been looking at the small exchanges and their Business Models... (Look up the Virtex IPO Prospectus to get an inside look)... And what it takes to clone one in a few...

OK, I'm trading at a smaller exchange in CAD with higher fees... Here are GOX fees = average about 0.5%. https://mtgox.com/fee-schedule Look at the volumes... http://bitcoincharts.com/markets/mtgoxUSD.html So GOX made about $2,000,000 last 30 days... Probably make...

Using $50 BTC and a 1.5% fee... Gox made about $50,000,000 last year... So they are just raking it in and here to stay. BitFloor was making about $2,000,000/year... But had their US bank account closed by Capital One... They will re-open in weeks in a friendly jurisdiction. Bitcoin-24...

This is where you miss the point. BTC is not being built by "hobbyists"... It's being built by an obsessive, highly educated Cult of 50,000 to 100,000 people... Go back to the 20th century and study the power of Mass Cults. This Cult has driven BTC from $50 million to $1 billion in 2...

Once upon a time... There was a concept called Fiduciary Responsibility... Which most politicians and bankers and lawyers and brokers took seriously... And the Rule of Law still held sway in the Developed World. The "average person" does not build States and their Institutions... And...

If Madoff was a friend of Obama... His case would have gotten zero priority... He'd probably be an Ambassador today. Third World Business As Usual.

This is your best insight... That I think in terms of concepts that simplify complex systems... As opposed to what most "brilliant" people do... They drill down and down... and complicate the hell out of everything. I'm obsessed with "normalizing" the stocks in a Universe in such a way...

I'm purely a liquidity provider = Market Maker. I bracket the NBBO with orders (but emphasize one side)... So an order that's $0.03 away and, maybe, 6th in line is valuable. To simplify, If I have 10 orders like the above on 10 similar stocks... Why would I care which one or two get...

A lot of strategies still work if you are 2nd in line. ------------------------------------------------------------------- The simple, key point that people seem to miss it this: The bad guys can ONLY deny you a fill. So if you put out 10 orders and DO NOT CARE which one fills...

Junk is highly correlated with it's common... And therefore highly correlated with market. http://finance.yahoo.com/echarts?s=IVV+Interactive#symbol=ivv;range=5y;compare=jnk;indicator=volume;charttype=area;crosshair=on;ohlcvalues=0;logscale=off;source=undefined;

"Regulations" are only as good as your recourse. In the 90s, I could get my broker to bust trades on the NYSE... Or I could call the NYSE directly and get trades busted. WTF, exactly, are you gonna do today? You'll never be able to prove any "regulation" has been broken. Ever.

Yes, the charting and data product is 1st class. But there is really no connection between this... And trading through an Introducing Broker + IB Clearing. Your stock and ETF commissions will DOUBLE... Your option commissions will go up by 50%... If you are remotely serious and do any...

Gambling and exploiting others is completely incompatible... With any serious form of Christianity. I've been a member of several Evangelical churches... And it would have been IMPOSSIBLE to get anyone to even set foot in a casino.

Hardly likely.

Sorry, I confused you with Random.Capital As for Taleb... He has 10 rules for "surviving an unpredictable world with dignity". And to paraphrase Rule #8... It's not news until the babes in your hot tub are talking about it. http://boingboing.net/2009/01/29/black-swan-authors-r.html

That's quite a compliment... From someone who actually named a trading firm Random Capital Management. Have you ever hot tubbed with Nassim Taleb?