BitCoin - Intellectual Fraud or a Stunning Idea??
- Thread starter gmst
- Start date
search around bitcointalk.org
times vary and so does reputation of all these firms. the most reliable firm, mt gox, if you can call it "reliable," has about a 10,000 person line waiting to get verified. you may be able to quickly transfer money in (low amnts), but it may take a while for you to get verified to transfer money and/or coins out. gl
I think it's more like .3% at mt gox. you should do your own checking, though.
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 very inefficient market...
With the cost for moving BTC around = zero.
This would be free money...
If it was not for the considerable counter-party risk.
When I see people on Bitcointalk bragging of making $50K/month...
Just by trading and arbing BTC... I almost believe them.
But you can make a lot more money setting up an exchange...
It's a LOT simpler than an Algo Trading operation...
It would be nice to be on the other side collecting fees for once.
In the end as a business decision...
You have to decide if BTC will keep growing for the next 2-3 years...
Because that's enough time to make a killing.
Every 20-30 bucks drop is a huge buying opportunity, but one needs to have funds for multiple entries.
Anyhow, the sound of money changing hands:
http://www.listentobitcoin.com/
Oh yeah, looks like the Chinese is finally discovering bitcoin, here is the client download stats from yesterday:
1. China 14,970
2. U.S. 2,891
Here is a quick translation of a video shown in China (CCTV, the China Central Television) about BTC:
"First, they are talking about professionals play with Bitcoins in China. They bought bitcoin servers from US and mining as much as they can. There are companies that invest on machines may mine 200 Bitcoins per day.
Then they interview some investors to talk about the risk in Bitcoin. The professional bitcoin investor play with Bitcoins as shares, and indicate that there were undersell during bitcoin's massive growing in April. People are concerned about the bitcoin "bubbles".
Last, they interview specialist in Finance and banking. They seem agree on that the bitcoin is the economic bubble. They infer the "Tulip Mania" happened in the Dutch Golden Age, and imply that bitcoin is high in risk, specially because it's very likely going to be another type of artificial currency.
Anyways, I see there are many ppl in China are using Bitcoin, some even started to use bitcoin to buy coffee in Beijing. They mentioned several forums in China about bitcoins: www.btcman.com , www.btcchina.com .
I guess it is definitely going to get more Chinese ppl involved in bitcoins. The government don't have any regulation on it yet. Certainly it's a good way to get money out of the country. It worth to keep an eye it for sure."
Anyhow, the sound of money changing hands:
http://www.listentobitcoin.com/
Oh yeah, looks like the Chinese is finally discovering bitcoin, here is the client download stats from yesterday:
1. China 14,970
2. U.S. 2,891
Here is a quick translation of a video shown in China (CCTV, the China Central Television) about BTC:
"First, they are talking about professionals play with Bitcoins in China. They bought bitcoin servers from US and mining as much as they can. There are companies that invest on machines may mine 200 Bitcoins per day.
Then they interview some investors to talk about the risk in Bitcoin. The professional bitcoin investor play with Bitcoins as shares, and indicate that there were undersell during bitcoin's massive growing in April. People are concerned about the bitcoin "bubbles".
Last, they interview specialist in Finance and banking. They seem agree on that the bitcoin is the economic bubble. They infer the "Tulip Mania" happened in the Dutch Golden Age, and imply that bitcoin is high in risk, specially because it's very likely going to be another type of artificial currency.
Anyways, I see there are many ppl in China are using Bitcoin, some even started to use bitcoin to buy coffee in Beijing. They mentioned several forums in China about bitcoins: www.btcman.com , www.btcchina.com .
I guess it is definitely going to get more Chinese ppl involved in bitcoins. The government don't have any regulation on it yet. Certainly it's a good way to get money out of the country. It worth to keep an eye it for sure."
Then this was featured today...insane!
Living On Bitcoin For A Week: The Bitcoin Diet
http://www.investfeed.com/articles/detail/104
Living On Bitcoin For A Week: The Bitcoin Diet
http://www.investfeed.com/articles/detail/104
I don't think so, or at least not now....
You can use for checking: http://www.downforeveryoneorjustme.com/
Also, if you think it is down, check it here, somebody is going to post it in less than 10 minutes:
http://www.reddit.com/r/Bitcoin/new/
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Forex Meets Bitcoin: https://www.kraken.com/
"Kraken is a new US based Bitcoin exchange that announced their beta after the Coinlab vs Mt.Gox suit. They are promising to offer 1:10 margins and shorting,"
They have a playmoney feature, so I am going to try that one out. Virtual playing a virtual money, hmmmm, delicious.....
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The daytrader's wet dream continues, in less than 2 days from $120 down to $80 and back again...
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For constant Bitcoin news: http://wtbtc.com/"