Posted on 12/28/2013 8:16:01 AM PST by Errant
It’s the festive season, and if there is a bitcoin fan among your friends and family, then they may have given you some of the virtual currency in your Christmas stocking. If so, what should you do with it?
There are several options for you as a new bitcoin owner. We’ll tell you about them here, but before you start, please don’t do what Bloomberg TV anchor Adam Johnson did. Fellow anchor Matt Miller gave bitcoins to Johnson as a Christmas gift on air. They came in the form of a paper wallet (see below), which Johnson showed to the camera, displaying his private key in the process. Whoops. A reddit user scanned the QR code and beamed the bitcoins to his own address, bragging about it later online. There’s one person who made it onto the naughty list this year.
(Excerpt) Read more at coindesk.com ...
You can't compare oranges to apples at this early stage with your stupid chart.
No doubt.
I'm considering the viability of Bitcoins and what is likely necessary.
Number one, Price discovery. (a transparent market)
Number two, Liquidity. (enough "size/$'s" at each level)
Since this is in effect, a currency, I can compare it to how other currencies trade.
I can also, relate my experience trading equities and currencies and how trading programs create a false sense of both No. 1 & 2.
At the end of the day, trading is about RISK and Human nature.
Don't get me wrong, I'd love to see bitcoin succeed.
IMHO, if Bitcoins are open to electronic trading 8 points out, it will become dominated by deep pocketed programs. It will likely trade in very very narrow ranges for days on end, which may seem beneficial, but will exploded in either direction as there is no liquidity outside the narrow range.
A person has to buy bitcoins with regular money using a credit card on the web just like the gifting person has to buy the gift card with regular money.
Isn't the only way to get bitcoins is to pay regular money for them and it's done on line?
See post #42.
That being said.
If say Wal-Mart or Amazon begin accepting Bitcoins then they will NEED to Hedge that risk, much like they hedge the risk with any other currency.
Most of these Companies hedge their currency risk by hiring Banks/brokers.
This reminds me of a very funny story.
This really happened, BTW.
Back in the very early 1990’s Dell Computer set up a currency hedging dept. internally. They reported their quarterly earnings and actually made more money trading currencies than selling computers. Their stock got hammered as a result.
Thanks for the pings.
I’m still ambivalent but find the subject interesting.
You compare bitfrauds to money, right?
You are promoting a self serving fraud here. Every post is another effort to sell your self created and fraudulent scam.
Only people who don't belong there think that stock value is money until it's sold. It's a fake price created with bogus money, and it evaporates if people start cashing out.
You can offer goods or services for Bitcoin.
I have used coinbase https://coinbase.com
You can also purchase them from individuals locally .
http://static2.businessinsider.com/image/52b8117d69beddca64759588-731-661/bitcoin%20volatility.jpg
I'm having to deal with bitcoins for an estate that I'm the administrator of. When I first started looking (late summer), they were just under $100. I watched them slowly climb to the mid $200s, then swiftly to over $1200. Now it's back to $750-ish.
Not a very stable fraud then, right?
Self serving fraud would be you narses.
From my ping list post:
"Please let me know if you would like to be on or off a Bitcoin Ping List concerning articles and information, both pro and con, about the development, current issues, and use of Bitcoin and other crypto-currencies."
SO, what part of "both pro and con" do you NOT understand narses, as seen in the examples of some of my more negative Bitcoins posts linked below and very much in contrast to your lie that: "Every post is another effort to sell your self created and fraudulent scam."
Indian Authorities Swoop Down on Buysellbitco.in
Bitcoin ripped by National Bureau of Economic Research report
Fact, Fiction, And 11 Bitcoin Myths
Bitcoin Price Crash Towards Zero? The Ponzi Scheme Bubble Plays Out as Designed
Mr. Robinson, I only started the "ping" list after being prompted by others interesting in the latest Bitcoin developments. I'm very pro individual and a anti-collectivist. I do believe cryptocurrencies offers possibilities in freeing people from the chains of big banks and big governments. That said, it is a concept that needs the acid test before widely implemented and no doubt TPTB will give it that. I've endeavored to post both pro and con articles about Bitcoin but on the other hand there is no doubt my enthusiasm shows in my comments inside the posts.
If I'm doing something wrong here, please let me know and I will gladly stop whatever doesn't meet the high standards that you maintain here.
Self serving fraud would be you narses.Fail. I am not SELLING the bitcoins here, you are. And where was the last NEGATIVE story about your sales game that you posted? Remember, you ADMIT you "manufactured" these bitcoins and sold them. You appear to be promoting a boiler-room style pump-n-dump here, at least imho.
Right narses, I’m just pumping them out right and left... Isn’t it about time for you to go take your meds and hop in bed? :)
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.