Professional Traders Show Interest in Bitcoin
1–10 of 107 posts
Re: Professional Traders Show Interest in Bitcoin
#2Bitcoin's "demise" is greatly exaggerated. I still think it's a big thing.
Re: Professional Traders Show Interest in Bitcoin
#3Bitcoin's "demise" is greatly exaggerated. I still think it's a big thing.
Agreed.
It will be interesting to see what happens at the end of this year when the block reward halves.
Re: Professional Traders Show Interest in Bitcoin
#4There's a great punch line if you read all the way to the end. But I'll save you the trouble. The set up:
Banking and payment expert Simon Lelieveldt believes [Bitcoin users] are living on borrowed time. "There is always a power base underlying a currency," he said, speaking at the Digital Money Forum in London in March. "Bitcoin is not going to fly because there is no central bank or power base. It's doomed to fail."
And then, at the end:
"To be clear, I would say the same about the euro," said payment expert Lelieveldt.
Re: Professional Traders Show Interest in Bitcoin
#5It would be interesting to hear a real quants take on the utility of having bitcoin as a (small) asset class in your portfolio. How much correlation does bitcoin have to any other asset class? I'd wager very, very little, making it a strong candidate for diversification. That said, it's overall volatility might offset the reduced expected volatility you'd see in your portfolio by holding some.
Re: Professional Traders Show Interest in Bitcoin
#6Re: Professional Traders Show Interest in Bitcoin
#7There's a great punch line if you read all the way to the end. But I'll save you the trouble. The set up: Banking and payment expert Simon Lelieveldt believes [Bitcoin users] are living on borrowed time. "There is always a power base underlying a currency," he said, speaking at the Digital Money Forum in London in March. "Bitcoin is not going to fly because there is no central bank or power base. It's doomed to fail.…
I thought this link was a Reuter's April Fool's joke.
Re: Professional Traders Show Interest in Bitcoin
#8There's a great punch line if you read all the way to the end. But I'll save you the trouble. The set up: Banking and payment expert Simon Lelieveldt believes [Bitcoin users] are living on borrowed time. "There is always a power base underlying a currency," he said, speaking at the Digital Money Forum in London in March. "Bitcoin is not going to fly because there is no central bank or power base. It's doomed to fail.…
I thought this link was a Reuter's April Fool's joke.
Dated April 2nd.
Re: Professional Traders Show Interest in Bitcoin
#9Bitcoin is mathematically flawed. There are at least two attack vectors that someone with a million bucks or less could pull that would require manual overrides on the code, which, as nobody likes to talk about, is possible.
edit: Disclosure: I made a bunch of money getting in on bitcoin early and then selling out at around $22. It was at that point where I looked at the whole system and determined the attack vector.
Also the only way to get bitcoins securely is to buy and sell them for cash. And even then there are ways of figuring out who is who.
The next thing will be the right thing, but this isn't it. The long term picture for bitcoin, unless completely overhauled, is bleak.
Re: Professional Traders Show Interest in Bitcoin
#10"A spokeswoman for the German Bundesbank told Reuters it was not classifying Bitcoins as e-currency.
She said EU law required only euros to be accepted as legal tender, but this was superseded by German law that allows those involved in a contract to determine its content. So Bitcoin is at least not illegal there."
It wasn't even a year ago when the German organization BVDW (The Federal Association of Digital Economy) put out an alert: "We assume that, on substitute currencies' like Bitcoins sooner or later be banned by legislation,"
- http://bitcointalk.org/index.php?topic=11061.msg158226#msg15...