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21  Economy / Speculation / Re: How To Capitalize On The Bitcoin Frenzy WITHOUT The Risk on: April 10, 2013, 05:23:41 AM

What's special about May 6th?

Coinlab opens

Ok, remember, I'm admitting I'm the new guy so be gentle.  But why is Coinlab opening, and thus in theory bringing more fiat currency to the market through supposed ease of use, bad for his play?  It seems to me that he would want to acquire more and stay long in that case.

What am I missing or lacking in understanding?

J.

Perhaps it is the uncertainty of how smoothly the transfer will go.

Remember, MtGox drops $30 in a few minutes based on a bit of lag. If the transfer caused a few hour/days crash...good bye rally.

I see... then I will begin working to have some cash available to buy the dip then..  Thanks for the heads up, now I can be more prepared.
22  Economy / Speculation / Re: How To Capitalize On The Bitcoin Frenzy WITHOUT The Risk on: April 09, 2013, 11:13:14 PM

What's special about May 6th?

Coinlab opens

Ok, remember, I'm admitting I'm the new guy so be gentle.  But why is Coinlab opening, and thus in theory bringing more fiat currency to the market through supposed ease of use, bad for his play?  It seems to me that he would want to acquire more and stay long in that case.

What am I missing or lacking in understanding?

J.
23  Economy / Speculation / Re: How To Capitalize On The Bitcoin Frenzy WITHOUT The Risk on: April 09, 2013, 08:02:05 PM
If there were guaranteed profits of 300-500%, people would be doing it themselves and not giving the profits back to you.

Don't say people didn't warn you.

While nothing is guaranteed, this is a very shortsighted view and plain ignorant way to look at things.

"doing it themselves"

...Is not an option period.  Traders need speed and liquidity.  And lenders need a intermediary to protect their loan with margin requirements and position liquidations if necessary.

Bitfinex simply provides the platform for doing that.

The reason for such high loan rates right now is because there is high demand and few loans.  As soon as more loans enter the system then the opportunity decreases.  

As with all investments, those who recognize value first get the biggest advantage.

There's no way this opportunity will continue forever.  



So why not get a real loan in the real world and then lend it out on Bitfinex? You'd make a shedload of cash, especially if you kept quiet about it keeping the interest rate high since d > s?

Right? I mean that's what I would do if I didn't believe this site would eventuallt make off with your cash

That is a very doable arbitrage play right now.  Do it.


I've maxed out my father's credit card to buy my bitcoins. Hopefully I'll make enough money that he won't get mad when his bill comes at the end of the month

Completely irresponsible and wrong bet you made.  Lucky for you you'll win this one if you sell before May 6th, and you got in below 145.  Don't let that win embolden you to do it again. 

What's special about May 6th?
24  Economy / Securities / Re: ASICMINER: Entering the Future of ASIC Mining by Inventing It on: April 09, 2013, 04:28:00 PM
What is the cutoff time for acquiring new shares for the Burnside ASICMINER-PT to still receive dividends for that week?

J.

Up until the moment the div payment clears from AM, and til Burnside initiates the dividend. So Wednesday morning, roughly.

Wednesday morning is a little vague, however, is there a time window and according to what time zone?

J.
25  Economy / Securities / Re: ASICMINER: Entering the Future of ASIC Mining by Inventing It on: April 09, 2013, 04:16:44 AM
What is the cutoff time for acquiring new shares for the Burnside ASICMINER-PT to still receive dividends for that week?

J.
26  Economy / Securities / Re: ASICMINER: Entering the Future of ASIC Mining by Inventing It on: April 09, 2013, 02:37:46 AM
I'm curious, is it possible for ASICMINER to issue futures contracts?

J.

Futures contracts over/against what?

I was thinking future Bitcoin delivery...

Sounds more like something more suitable for an exchange-based PT than for ASICMINER itself to deal with.

Is an interesting idea, not sure if it has legs.  Effectively an asicminer share is a futures contract against all future dividend payments from asicminer.  And you're talking about buying (or selling), say, the next 6 months of dividend payments?  (as an example).

You hit the nail on the head.  That's exactly what I'm talking about.  And you're likely right about the PT instead of ASICMINER thing.  I'm just curious and also new to the whole bitcoin thing, so I figured it would be better to ask risk being flamed than to just not know.
27  Economy / Securities / Re: ASICMINER: Entering the Future of ASIC Mining by Inventing It on: April 09, 2013, 01:03:12 AM
I'm curious, is it possible for ASICMINER to issue futures contracts?

J.

Futures contracts over/against what?

I was thinking future Bitcoin delivery...
28  Economy / Securities / Re: ASICMINER: Entering the Future of ASIC Mining by Inventing It on: April 09, 2013, 12:06:03 AM
I'm curious, is it possible for ASICMINER to issue futures contracts?

J.
29  Other / Beginners & Help / Trading BTW Exchanges on: April 06, 2013, 05:33:04 AM
Here's the good thing about being the new guy... I can ask this question without concern for being flamed.... I hope.

I found multiple exchanges and they each have differing prices for USD/BTC, and sometimes that price difference is tens of dollars or more.  So why not just buy on the cheap exchange and then sell on the higher one multiple times per day?

I feel like I'm missing something fundamental, or there's a fine print document somewhere I haven't seen.

Thanks for reading and please be gentle...

J.
30  Other / Beginners & Help / Precious Metals to Bitcoin.... on: April 06, 2013, 05:25:01 AM
Does anyone know a service that they have:

1) Used successfully.
2) Had good customer service.
3) Used repeatedly.
4) Would be willing to refer to your mother.

That provides exchanging silver or gold bullion for bitcoin?

Thanks...

J.
31  Other / Beginners & Help / Transferring USD funds to MtGox on: April 06, 2013, 05:23:10 AM
Hello...

I'm new to the community, since the USD/BTC rate was $70.00, and because I was unsure about how things worked I've steadily tried many different ways of funding my account at MtGox.

I've done the wire to Japan thing:  Takes 3 days.
I've done the BitInstant thing:  It's a crapshoot as to which MoneyGram agent you get via phone, and have learned to go to Wal-Mart instead.  Also, there seems to be a dollar limit that I've now hit and I don't know how, when, or if it resets.

So in short the majority of funding transactions I've done are in the $100.00 to $2000.00 range.  Now that I'm reasonably comfortable with how things are working, I'm looking to find the fastest, least expensive option for funding my account with additional funds in higher amounts.  I like the speed I have experienced with BitInstant and I like the amounts available through wire.

Is there a service that combines both?

Thanks...

J.
32  Other / Beginners & Help / Re: The Bitcoin Symbol... on: April 06, 2013, 05:14:49 AM
And that will work on other places than this forum?
33  Other / Beginners & Help / The Bitcoin Symbol... on: April 06, 2013, 05:10:59 AM
Hello...

I've seen the bitcoin symbol, BTC, other places than on this forum and I'm wondering what keystrokes are required to make it?

Thanks for your time...

J.
34  Other / Beginners & Help / Re: The April 2013 Bitcoin "bubble" thread on: April 03, 2013, 08:32:37 PM
Well I definitely ain't buying them while the price goes up! I can't afford them. I just want Bitcoins to gain widespread use for every day kind of things.
You can't afford $14 to buy 0.1 BTC, or $1.40 to buy 0.01 BTC? They're highly divisible, so don't limit yourself to buying whole Bitcoins.
Ah! That was something I was wondering about - If the exchanges had fractions available. I didn't know that. Thanks!

In fact you can get to around 8 decimal places I believe.  The annoying part is that once you do, the transfer fee from the exchange can somtimes keep those small fractions trapped.  In short, do the math first, I did not.

J.
35  Other / Beginners & Help / Re: Introduce yourself :) on: April 03, 2013, 08:29:05 PM
Hello all...

I'm new to the crypto currency world and excited about it.  Looking forward to learning...

J.
36  Other / Beginners & Help / The hows and whens of dividends... on: April 03, 2013, 08:14:52 PM
Hello...

I'm new, that part is obvious as I'm posting here, and I'm wanting to know if anyone here knows how the dividend ASICMINER-PT pays will arrive to me?  And also, it is my understanding that those same dividends happen once a week.  Does anyone know the deadline or scheduled time those dividends are to be declared and then subsequently received?

Thanks...

J.
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