Bitcoin is almost banned all over.
Betting Against Bitcoin With Options
- Thread starter xyannix
- Start date
(a) did you actually see the bid offer on these stupid binaries? it is beyond eggregious! i know that volatility of the bitcoin is high, but probability of making money is very low with this style of execution
(b) i have zero views on bitcoin except that in these early stages it's very hard to predict the potential of the product. for choice, i'd be a buyer not a seller
(b) i have zero views on bitcoin except that in these early stages it's very hard to predict the potential of the product. for choice, i'd be a buyer not a seller
China Alibaba is one of the example
But its very risky
Quote from Hoi:
Indeed, do your research.... which is something you didn't do yourself! And here is why:
Your examples of "Liberty reserve" and "E-gold" are both centralized forms, created and managed by one central (and indeed criminal intended) organization. They are shutdown for a good reason.
Bitcoin is a completely other beast. It's decentralized and not managed by one entity, but by any individual who has some useful application for it. By definition it's up to the individual how to use it, and by definition there are only a few criminals among us (the same percentage which uses USD for instance).
Just some dolls with pins
I bet that percentage wise, there is a larger amount of criminals in Bitcoin than in USD. The incentive is clearly there, it makes it super easy for cross-country transfers, money laundering, black markets etc unlike any regulated fiat. In fact there was a whole online black market using nothing but bitcoin that got shut down by the fed. Don't see that with the USD...
Also bitcoin exchanges face higher and higher barriers to entry due to their constant collapses. People become skeptic and will only use trusted exchanges. My bet is this will result in eventual monopolization, and bam, it's essentially centralized. Looking at the http://bitcoincharts.com/charts/volumepie/ it's already distributed accross 4 exchanges only. It makes little sense to argue decentralization when it's dependant on centralized exchanges, software etc. Also wasn't BitCoin mining also attempted, and almost successfully, monopolized by some supercomputer once? It seems as difficulty rises, again barriers to entry will be higher.