Bitcoin thread anyone?
- Thread starter COB
- Start date
100k $ or bc? Not instantly in either case. You would move the market (unless thats what you want to do). Would want to do that over a day or two probably. It is a 24/7 market, though. Good arb opportunity between bc exchanges.
Sometimes mtgox gets too much traffic. They keep upgrading bandwidth but can't keep up sometimes. Check back in a few.
the avg volume for the last month has been about 1mil / day, so i doubt you could play effectively w/100k, but you definitely could play well with smaller amounts (like 90% of this board trades).
as to the intra-market arb, i'm not sure how well it would work out but i'm sure there are some- .65% transaction costs eat into arb'ing pretty quickly though, and you aren't allowed to pull quotes more than once every 15 sec from some of the sites because these are basement operation brockerages--- that being said i'm sure there are people making some money doing it.
also i'm sure it's been said before but i'll repeat- still no margin available so this is an "unshortable" market that is still digesting a blowoff top that hit mid-30's. testing 12$ support already now, but i wouldn't be surprised to see it drop into the mid-single digits before calming down.
It's as if you keep reading Brave New World.
Luckily, this market is not commoditised... or large financial institutions would have crowded it for sure. The latest data suggests they still prefer smart educated hardworking people.
New malware steals bitcoins
http://www.wired.com/threatlevel/2011/06/bitcoin-malware/
"The malware, Infostealer.Coinbit, is fairly simple: It targets Windows machines and zeros in on the standard file location for a Bitcoin wallet. It then e-mails the wallet â a data file containing private crypto keys â to the attacker by way of a server in Poland, according to Symantec, which was first to alert on the attack."
http://www.wired.com/threatlevel/2011/06/bitcoin-malware/
"The malware, Infostealer.Coinbit, is fairly simple: It targets Windows machines and zeros in on the standard file location for a Bitcoin wallet. It then e-mails the wallet â a data file containing private crypto keys â to the attacker by way of a server in Poland, according to Symantec, which was first to alert on the attack."
Interesting price action. Somebody had a large sell order and was holding down the price, although he could have made more had he let the price go higher:
And the discussion about dark pools:
http://www.reddit.com/r/Bitcoin/comments/i0kga/nerds_may_have_a_lot_of_bitcoins_but_they_sure/
And the discussion about dark pools:
http://www.reddit.com/r/Bitcoin/comments/i0kga/nerds_may_have_a_lot_of_bitcoins_but_they_sure/
Keep in mind that seller probably only paid an electric bill for those coins. He may have been able to get more, but if you are a guy in your moms basement, 100k may as well be 1 mil when your mom paid the electric bill.
Time will tell if he was right. Could crash tomorrow for all we know if the fbi finds a way to crack it
Time will tell if he was right. Could crash tomorrow for all we know if the fbi finds a way to crack it