31–40 of 77 posts
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Many people earn income in bitcoin or cryptocurrency and would consider the US dollar the poor investment or purchase. It is all a matter of perspective which simple wasn't apparent because there weren't options a decade ago.
...for some definitions of "many"
By comparison, just about every crypto exchange currently offers push feeds and historical data for free. In most cases you don't even need to sign in.
In some sense this is a measure of the immaturity of crypto markets.
But it's also a reminder that with main institutional players moving in, the barriers to entry will go way up.
We'll probably start to see more brokers and vendors and more consolidation/buyouts of the crypto exchanges.
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Yeah...$20 million market cap seems reasonable... smh...
There is utility in BTC thats why im putting 1-2$ value on it. 4000$ + per one BTC is pure insanity that will soon end badly for most "speculators". There is nothing new under the sun. Go back to the tulips and many booms and busts after. Its happening with BTC now. And just like all the others it will end the same.
A historically honest account characterizes tulip mania as "no more than a meaningless winter drinking game, played by a plague-ridden population that made use of the vibrant tulip market."
So, assuming you are making a parallel between bitcoin and the fictional "propaganda" narrative of tulip mania: that comparison falls apart quickly, since (1) bulbs have an exponential growth rate. (2) the 3 year crash did not feature boom + bust cycles with steadily increasing bottoms. (3) Bulbs are not permanent or fungible. (4) short selling bulbs was illegal. (5) bitcoin is not subject to a decree by dutch parliament that futures contracts must be options with the buyer allowed to back out for a 3.5% fee.
The way that bitcoin mirrors tulip mania is that it is subject to "propaganda" with an "anti-speculative agenda", and that both took place during a rapid increase in the fiat money supply.
To get live data from ICE--the exchange that withdrew the request--I'm currently paying a broker $120/month. By comparison, just about every crypto exchange currently offers push feeds and historical data for free. In most cases you don't even need to sign in. In some sense this is a measure of the immaturity of crypto markets. But it's also a reminder that with main institutional players moving in, the barriers to e…
It says this fund is still traded at unofficial exchanges at prices a number of times higher than the value of the bitcoin it holds. The multiple layers of speculative mania involved in that boggles the mind.
Would you consider it "speculative mania" if GBTC traded at a steep discount to all other exchanges?
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the fact that you tout the "tulip mania" example shows that Bitcoin and markets are not the only things you know little about: http://www.smithsonianmag.com/history/there-never-was-real-t... > BTC is pure insanity that will soon end badly for most "speculators" > Its happening with BTC now Join the long line of people that have been saying this for almost 5 years and have been so soooooooooo wrong
Did you read the article you posted? Actual tulip mania, as described in the article, is much more similar to what is happening in bitcoin than the mythologized tulip mania. Frantic speculation in a narrow space with the market eventually crashing when speculative buyers are no longer willing to bid up?
To me bitcoin lost its appeal after transaction fees became high. The value is ok, since you can still use fractions of it, but current transaction fees and time to wait for confirmation makes it unsuitable for daily use. So in my mind bitcoin already failed what it supposed to provide.
To get live data from ICE--the exchange that withdrew the request--I'm currently paying a broker $120/month. By comparison, just about every crypto exchange currently offers push feeds and historical data for free. In most cases you don't even need to sign in. In some sense this is a measure of the immaturity of crypto markets. But it's also a reminder that with main institutional players moving in, the barriers to e…
I would pay a lot monthly for that product. Such a pro-level service doesn't exist at all yet.
Also there aren't any derivatives or futures to speak of yet (don't point out the existing futures markets, they have no volume).
Source: I run CryptoLotus, a crypto hedge fund.
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Yeah...$20 million market cap seems reasonable... smh...
There is utility in BTC thats why im putting 1-2$ value on it. 4000$ + per one BTC is pure insanity that will soon end badly for most "speculators". There is nothing new under the sun. Go back to the tulips and many booms and busts after. Its happening with BTC now. And just like all the others it will end the same.
RIP bitcoin. Current valuation is $4142.99 higher than it should be.. Im thinking we will get there within a couple of years. $1-2 seems about right per 1 BTC.
It says this fund is still traded at unofficial exchanges at prices a number of times higher than the value of the bitcoin it holds. The multiple layers of speculative mania involved in that boggles the mind.
Different prices at different trading venues speaks to the difficulty of moving funds quickly between them. When those hurdles are overcome, such a glaring arbitrage opportunity will disappear. Would you consider it "speculative mania" if GBTC traded at a steep discount to all other exchanges?
>Would you consider it "speculative mania" if GBTC traded at a steep discount to all other exchanges?
This is as shallow an argument as "If Jimmy broke his leg getting hit by a car, would you say I got hit by a car if I broke my leg?"
If you were also playing in traffic, then yeah.