I sure do hope that you are right about this. I think however that it is likely the 2014 is just a placeholder with them assuming that the SEC will approve their application and allow the IPO by the end of the year. [ ] is a placeholder. If they didn't know the year they'd have included it in the [ ]. |
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We will have to see. This is an OTC (over the counter) exchange. So it's mainly for large investors still. The COIN ETF will be a much bigger deal.
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So does the amount of bitcoins the arbitrageurs buy depend on how popular the exchange becomes?
 It depends on if there are any trading opportunities for arbitrageurs. If the derivative gets too high or low compared to the actual price of Bitcoin, then arbitrageurs will take action to make a profit by bringing the prices together. If the derivative is higher than Bitcoin, Bitcoins will be bought and derivative sold. If the derivative is lower than Bitcoin, Bitcoins will be sold and derivative bought. Buying pressure on the derivative will translate into buying pressure on Bitcoin itself. |
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Again, the exchange buys no Bitcoins. That is left to the arbitrageurs. See my last post.
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The link betwen the derivatives markets and the actual underlying (Bitcoin here) are always made by arbitrageurs. For example, if the futures market for S&P 500 is overpriced, you short the future and buy the basket of stocks making up the S&P 500. The prices will come back together and you will profit. As a side effect, the futures markets thus track the underlying market very closely. The same will be done for Bitcoin futures. This means if the derivatives market is bid up to $10,000 / Bitcoin, Bitcoins will be bought and futures sold along the way to keep the two in sync. There are your purchased Bitcoins.
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apple pay is the worst news for bitcoin in months. you people are delusional.
Apple Pay isn't a competitor to Bitcoin any more than Paypal is. Just another USD payment provider. |
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How would you do that? If the transaction is submitted to the network it will eventually be confirmed unless you double spend it before someone in the network mines that block.
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double spend your coin on a big dollar deal i dare you.
That one happens all the time. The local mom and pop shops in my city are now checking every bill for counterfeit. Apparently there's a group passing off fake $10 bills now all over the place. If they don't check the bills, the bank will reject them on deposit and they will be out the money. Bitcoin fixes this problem. |
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The network targets 10 minutes for one confirmation. But it's usually less than that. For small transactions you don't need it anyway. Nobody is going to spend the mining resources trying to double spend a small transaction. They'd lose money. So for transactions that cost less than the average cost to mine a block, it's safe to go with zero confirmations.
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Tremendous support at $462.50, but not sitting on the exchange as limit orders.
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And it won't happen. Even if it did happen, it could be easily corrected with a fork.
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When someone finds a private key, the first thing they do is transfer the Bitcoins out to another address they alone control. That hasn't happened.
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Any hint about all the Satoshi email stuff might have on BTC price?
(I know falllling will say we are about to see a big dump, no need to waste your post answering me)
What is known now is already priced in, including the probabilities of various unknowns. |
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Falllling just meant he's headed home. He lives in the huge dump.
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I wonder how much falllling is getting paid to try to talk down the price. He's getting desperate now.
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We have now hit an all time high for Bitcoin adoption, and it looks to continue its upward trend. As you can see, Bitcoin's price is heavily correlated with the Metcalfe's Law value of Unique Addresses ^2. I see no signs of this correlation changing, nor of adoption slowing. This implies a continuation of the exponential rise in Bitcoin's price. Sometimes adoption leads price, and sometimes price leads adoption. You can see this if you analyze the long-term trend in the top chart. At this point it looks like adoption is going to lead price.  Here is the chart zoomed into the right side of the chart for better analysis:  Edit: Updated 9/8/2014 with latest data. I have updated the first post of the thread with the latest data. An all-time-high for adoption should come with an all-time-high for price soon. Deviations from correlation are generally due to speculation and short term technical market movements. Price and adoption do eventually converge. In the past when adoption rose without price, you can see that price eventually rejoined adoption and began the next bubble. |
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the more businesses "accept" bitcoin (immediately dump it on exchanges via market sells), the more it will crash.
Of course you ignore the fact that the graph proves you completely wrong, don't you? Adoption and price are strongly correlated. Please leave your trolling outside my thread. |
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We have now hit an all time high for Bitcoin adoption, and it looks to continue its upward trend. As you can see, Bitcoin's price is heavily correlated with the Metcalfe's Law value of Unique Addresses ^2. I see no signs of this correlation changing, nor of adoption slowing. This implies a continuation of the exponential rise in Bitcoin's price. Sometimes adoption leads price, and sometimes price leads adoption. You can see this if you analyze the long-term trend in the top chart. At this point it looks like adoption is going to lead price. Here is the chart zoomed into the right side of the chart for better analysis: Edit: Updated 9/8/2014 with latest data. I have updated the first post of the thread with the latest data. |
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Thanks. Is that the end then of the downtrend per EW? We proceed with a rally after that?
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