"A weighted random number generator just produced a new batch of numbers." "Let's use them to build narratives!" --http://xkcd.com/904/
Bitcoin Markets React to US Marshal Auction Close
11–15 of 15 posts
Re: Bitcoin Markets React to US Marshal Auction Close
#12"A weighted random number generator just produced a new batch of numbers." "Let's use them to build narratives!" -- http://xkcd.com/904/
The next step, obviously, is a Markov chain sentence generator based on this. Hell, I'd like to see a completely AI-generated news site that works off scraping current events and a market report.
Re: Bitcoin Markets React to US Marshal Auction Close
#13Today's jump may have more to do with this news from IRS: http://www.forbes.com/sites/kellyphillipserb/2014/06/30/irs-...
No. This IRS news was known more than 3 weeks ago: http://www.bna.com/irs-no-bitcoin-n17179891056/
Re: Bitcoin Markets React to US Marshal Auction Close
#14Note that this assumes the markets believe all bitcoins are fungible. There was some speculation buyers might pay a premium for coins held by the US government because they would be considered "clean". That said, if you don't believe Bitcoins to be fungible I think you'd be crazy to buy millions of dollars worth of them. Bitcoin becomes far less useful if everyone has to worry whether their Bitcoins won't be accepted…
I always thought these Bitcoins might command a premium due to no counterparty risk and no need to give personal information to sketchy companies. Although from what I understand many bitcoin enthusiasts don't necessarily thrust the US government either...
Re: Bitcoin Markets React to US Marshal Auction Close
#15Note that this assumes the markets believe all bitcoins are fungible. There was some speculation buyers might pay a premium for coins held by the US government because they would be considered "clean". That said, if you don't believe Bitcoins to be fungible I think you'd be crazy to buy millions of dollars worth of them. Bitcoin becomes far less useful if everyone has to worry whether their Bitcoins won't be accepted…
I always thought these Bitcoins might command a premium due to no counterparty risk and no need to give personal information to sketchy companies. Although from what I understand many bitcoin enthusiasts don't necessarily thrust the US government either...
More likely in my opinion: They might command a premium because buying them like this would be a lot less expensive than buying the same quantity on the open markets, where you would likely drive the price way up before you finished purchasing your target quantity.