5 Things to do With Those Christmas Bitcoins

Coin Desk ^ | 27 December | Danny Bradbury

[Errant]

Given the volume of the US dollar, it's index can easily gain or lose 20 - 30 billion dollars a day. That's 2 - 3 times the value of all of the Bitcoins in existence in ONE day...

You can't compare oranges to apples at this early stage with your stupid chart.

[Zeneta]

There are better and less stressful ways to make a living besides trading.

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.

[Marcella]

I knew it had to be a “virtual” coin but hadn't looked into it. Now, I've watched those UTube descriptions, and I get how it works. Sending a gift card over the internet is kind of like a bit coin. You buy the gift card on the net, giving the store the email address of the person to get the gift, and that person gets an email from the store telling him/her they have a gift card of “x” amount of money to spend at their store. You go to that store on line, spend that money, and get whatever you bought sent to you. You never dealt with money and the person buying the card paid for it on line with a credit card.

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?

[Zeneta]

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.

[nascarnation]

Thanks for the pings.
I’m still ambivalent but find the subject interesting.

[narses]

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.

[grania]

what do you call what the federal reserve has been doing fom many months now pumping money into the stock market?

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.

[TsonicTsunami08]

You can offer goods or services for Bitcoin.

I have used coinbase https://coinbase.com

You can also purchase them from individuals locally .

https://localbitcoins.com/

[Lee N. Field]

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.

[narses]

Not a very stable fraud then, right?

[Errant]

You are promoting a self serving fraud here. Every post is another effort to sell your self created and fraudulent scam.

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.

[narses]

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.

[Errant]

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? :)

[narses]