I know this is off-topic here but maybe not so much because I'm asking for help on how to use a financial instrument for a real purpose  . Problem is this: I'm sending casascius coins all over the world. Based on past performance of the postal service, out of 120 coins I sent (in 66 shipments) 4 got lost (in 2 shipments). That's 3% of the shipments and 3.3% of the coins. I insured these shipments, but the postal service will only pay damage up to the value of the coins on the date of the shipment. For one shipment of 3 coins I sent January 10th (and am only now going to receive compensation for the damage) this amounts to a whooping €46. To reacquire the coins I would now have to pay at least €350. Now to remove that risk I could buy call option on BTC, right? They would have to expire at least 5 months in the future and have current bitcoin price as strike price, right? Looking at mpex.co, which option would I have to buy? thanks in advance for anyones help. |
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I really really hope they do not allow shorting of bitcoin. Look at what it has done to the gold markets (The Fed sold 500 tons of puts in one or two days before the latest gold "crash" two weeks ago or so). If we make shorting allowed (and some sites like MtGox inevitably will), BTC will be open to manipulation of price. That said, when you only have 11 million shares, the manipulators will probably not have the last say.
What are you talking about. "They"? You can already short bitcoin. Just borrow some and sell them. On bitfinex for example. It's not like "they" (anyone) are going to be able to establish a a paper market on top of bitcoin. The "London Bitcoin Fix", lol. |
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come to daddy..
 That was a quick $5 drop ... Was that due to the last 5 posts here? rpietila panicked  maybe he's finalizing a large deal and mtgoxUSD is basis, so he's pushing it down to get a better price. (or someone else for that matter) |
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I am very bullish on the next week. It is possible that $200 will be breached. Every time bitcoin starts to rise in a serious way, the supply side just dries up, leading to an overextension and then retracement. Monday can easily see $160 but I don't think the post-crash high will be taken until Tuesday.
I have also bullish outlook but a bit different: Wednesday will be the strongest day like last week. The low-volume calm period has been very long now and this usually means strong moves. I'm pretty sure they'll point upwards. Not quite as bullish as rpietila, though. 0.14 on monday is possible, maybe tuesday. 0.16 on wednesday possible. 0.20? probably not this week. So I've been carefully going long(er) this weekend, buying the dips. As long as $0.12 isn't breached I consider lower price like now a buying opportunity. |
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I am endlessly amazed at the energy Joerg has put in to building the Bitcoin Kiez in Berlin,
Every metro area needs a Joerg, to serve as a local "Mayor of Bitcoin". +1 |
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how is orderbook display sorted?  |
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Outwhat?
OUTSIDE! Kind of a new MMRPG... The graphics are amazing Imagine you take off your vr glasses and NOTHING CHANGES! |
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Sir Naypalm,
Many thanks for the charts.
I have a number of September 2011 BTC's that I want to check for overfunding.
The chart shows 20, but I can only find 10 marked as 1+ in the list.
Thank you MIG, You are correct. There are 10 active extrabtc coins and 2 opened that are from the September 2011 batch. Heh, I mistyped a single variable and it was throwing off that one number. Also, if you know a link to help explain the whys and hows of overfunding, it would be greatly appreciated.
Kindest regards,
MIG
Overfunding - Why? For the owner: It's fun, its a way to make your coin stand out from the rest, OR use it as a wallet. For me: I was simply curious how many coins had extra bitcoin. How? Send any extra amount to your Casascius Bitcoin Address and it will register on the website as a coin having extra value. Example: You have a 1 BTC coin and you send 0.01 BTC to it, making the total received to be 1.01BTC. That will cause my script to flag it as Extra and it will have the + sign by it's USD value. There's another "why": you can use a casascius as saving wallet (if you really trust Mike). |
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Yeah, something that already exists and is inclusive anyway Perhaps even skip a decimal place, go 10,000ths of a Bitcoin is an X, which in turn is equal to 10,000 Satoshi? it makes sense to go down 1000 to 'bits', then finally (give it a decade or whatever) another 1000 to 'mikes' (or whatever name we'll come up with then for µBTC), because then, quite elegantly, 0.01 mikes are 1 satoshi. Lol: interestingly we can then measure money flow (like income for example) in kbit/s |
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Hey molecular,
I would like to order 2 coins
Thanks,
tBBW
Sorry, I'm out of stock. Eagerly awaiting the new 1/2 BTC coins. |
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What is with those weird big dump/buy patterns going on every so often? Is that just someone strategically clearing around the strike price?
 I've been wondering, too. Attempts to trigger stops? Attempts to stop downward trend? I don't know. comments? Most likely? Bad/emotional traders. But also a possibility is that they think they can turn things around by buying at market following a large sell, yielding them profit. hmm. rich trading noob(s) too lazy to put limit order? It's possible. |
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Wall pic? Everyone is talking about some huge wall at 120?
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What is with those weird big dump/buy patterns going on every so often? Is that just someone strategically clearing around the strike price?
I've been wondering, too. Attempts to trigger stops? Attempts to stop downward trend? rpietila? I don't know. comments? |
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Bitcoin winter is coming
what's that supposed to mean? |
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I may or may not have a 1,000,000mBTC bet outstanding, whether I can convert the majority of the forum to use mBTC before May 31st.
lol! It's close to impossible. I will try to help, bet or not. |
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"I think the milli crowd"
Shouldn't we just call it one bit, rather than a milli. So it's basically like cents to dollars, bits to bitcoins.
not a bad idea. I've been waiting for some better name than "milli" of "millibit" to pop up. This might be it. |
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what the f just happened? I saw a drop on clarkmoody down to $0.126. It stopped there so I reloaded the page. Now there is no drop like that to be seen.
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Here comes the panic again? Fun times! I'm going to buy a crazy amount of coins at $100 if it gets there.
not nearly as violent as the last time we bounced off $0.12. Nowhere near the volume. I doubt we'll even retest $0.12 agree, i called the bottom in my thread. can you link "your thread"? Looked through your recent posts but couldn't locate it. |
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Thanks a lot, molecular, received some time ago (forgot to confirm receipt, sorry!). I have a great wedding gift for my friend Thanks for letting me know. Pleasure doing biz with you. |
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I see the Bitstamp orders, very nice, testing it out! I predict that very soon the arbitrage opportunity between Gox and Bitstamp will disappear, while the Bitfinex volume will spike up.  FAR OUT! This is a great accomplishment and thank you. BitFinEx just became the best trading platform. +1. thanks guys, awesome work!! |
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