So.... what's the next bad news going to be about?
My guess is disappointing NY regulations. |
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After having cashed out all my bitcoins at 1K last November I refused to short bitcoin as I thought it was ''too risky'' (intimidated by the 10X increase in a month). Could have made a lot more shorting that epic China crash. Oh well.
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I'm just waiting for someone to post a log graph dating back to mid 2010 to show we're still in a bull market today...
Yeah, and look just how ignorant this guy's post turned out to be. According to current 2014 log graphs we're still in a bull market today. This is the reason I completely ignore bears and trolls on this sub, and will continue to do so for years into the future. Bitcoin crashed from 7 to 2 USD between September '11 and November '11. So, technically he did not make a bad call. There's nothing wrong with being temporarily bearish on bitcoin. |
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I have even less trust in bitfinex after mtgox incident seeing as it's also a french endeavor. No racism, just a pattern I noticed - french = not reliable practices.
Also a similar pattern: hiding out in East Asia... like Karpeles.  |
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PBOC issues warning: price drops 60% EBA issues warning: price drops 4.5% Y u so weak EBA? |
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If only you LTC fools listened to this you would not have lost over 70%. |
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Wow... LTC  |
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more and more people are realizing 10% interest a month on bitfinex will almost certainly make more than long term btc holding.
At 10%/month (what I've been making at finex), btc would have to be 6000 in 2 years.
I doubt most lenders lend out for months given the risk of goxings. Most are just lending out for a brief period. |
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The April '13 and China bubbles were fueled by dumb money. I doubt Wall Street will be panic buying like those previous bubbles. For all we know they could already be invested and are waiting for the next hype to dump on the new retail investors.
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You guys have to put it in context. Giancarlo was responding to people claiming BFX manipulates the market. Of course it is to be expected that he may get a bit agitated.
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BFX gained significant market share over the past few months. The older data may thus be slightly skewed.
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Your line violates a basic tenet of trend lines. In a downtrend, we have lower highs and lower lows. You can clearly see from your chart that we recently had a higher high. If we can establish a higher low, then we are in a confirmed bull trend.
Price needs to stay above the 200 SMA for confirmation of a new long term bull trend. This has failed to happen so far. |
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Even gold with its huge market cap is still relatively volatile. Bitcoin will always be relatively volatile as long as it isn't used as a widespread unit of account.
Is it really gold that is volatile being priced in fiat or fiat being volatile when priced in gold? No, even priced in other commodities, Gold is still volatile (especially on a monthly or yearly basis). |
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Did somebody come up with a good explanation for why BTCUSD is always higher on Bitfinex?
Goxing, security concerns etc.?
I love that you can trade BTCUSD on margin without verification other other crap, just cash out in Bitcoin afterwards. But security is important too...
Bitfinex seemingly has more efficient arbitrage ties with China. This is why its price tracks Chinese BTC price more closely than Bitstamp and BTC-e. |
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okcoin start P2P lending system like bitfinex.
now borrow(demand) order is 0.1-0.01%/day, total about $0.29million.
reserve(demand) order is 0.14-0.06%/day, total about $0.87million.
lend(offer) order is 0.1-0.23%/day, total about $3million.
lender/borrower/reserver can take max 360days.
leverrage rate is 1:1-2(due to your account level)
Considering the fiat restrictions in China I'd wager that the CNY rates will go higher and BTC rates will go lower similar to BFX but possibly even more pronounced. |
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LOL, I didn't know exchange owners browse this mainly trollish speculation forum. Giancarlo, Can you get a willy bot like Karpeles already and take us to 10,000?  Currently working on it.... :-P Giancarlo Bitfinex Team Awesome. |
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LOL, I didn't know exchange owners browse this mainly trollish speculation forum. Giancarlo, Can you get a willy bot like Karpeles already and take us to 10,000? |
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So would you guys recommend lending money to Bitfinex to take advantage of the interest? Are they trustworthy? Do you have to provide documentation to verify your account?
It is not recommended unless you are already trading on bitfinex and sold near a top and are waiting for a few days for the market to go down. Lending out for the long term is too risky due to flash crashes and exchange goxings. |
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In the early eighties they raised rates to 20% before they managed to undo the nixon overhang of weaker currency. You really want to tell me you think they can do that now.
Thats about equal to calling oil bearish as they invent the motorcar. Never before have we had this much crap and upset in the monetary system, its an epidemic. Maybe metals arent it but it sure is a possibility and if nothing else they'll outlast cheques or bonds
Theres land and theres gold, everything else is risky business and hard to say. A share should last in theory and thats my preference but as above some will argue bearish tenancies and higher dollar worth in future will retard company gains and finance
You may be right on the fundamentals for precious metals, but I believe this market is heavily manipulated by some large market making entities that are painting the market to look like a long bear market (repeat of 90s to dissuade PM investors). It would not surprise me one bit if they manage to keep it suppressed for a decade. You can't fight the fed. |
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