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If we hit gold market cap, hopefully most participants in this thread have enough for the rest of their lives.
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We are up 9.4% in 24 hours and I’m a party pooper !
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This is moving too fast.
Said nobody ever Hairy just did......you even quoted them..... Gdax and BFX through $9700. I am a hard bull but this is getting stupid. |
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Gdax and BFx getting ready to test $9700. This is moving too fast.
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Its definitely positive. It means everyone with a brokerage account suddenly has access to bitcoin without having to deposit onto a third party exchange they might not trust, and they can go in and out of bitcoin trades next to their stock trades. It means massive liquidity. Think billions of dollars suddenly added to the finex order book. Possibly with leverage too. I posted on here some time in 2013 or 2014 a prediction that if BTC were to be integrated with standard brokers, the price would immediately surge to $10K. This is what the rally has been all about.
I was under the impression that CME futures did not touch Bitcoin directly at any moment during the entire process. It's USD all the way. Am I wrong? They are futures contracts which means eventually at some date on the contract, the exchange has to buy actual bitcoins and deliver them. In addition, the futures prices will move the bitcoin price by mere arbitrage. Sorry but no. They are cash settled. It is a fiat bet on bitcoin price in $. Nothing more. Other players will move BTC price by arb. This is correct. Cash settled. could you explain the arb angle though? One person can have both an account on a bitcoin exchange and a futures exchange. When one exchange is higher than the other they buy one and sell the other. Or a person with a bitcoin exchange account makes some kind of private deal with someone with an futures account. I could probably find more by Googling about futures arbitrage. I don’t think JPM Morgan can trade on Gdax on its own account. |
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Its definitely positive. It means everyone with a brokerage account suddenly has access to bitcoin without having to deposit onto a third party exchange they might not trust, and they can go in and out of bitcoin trades next to their stock trades. It means massive liquidity. Think billions of dollars suddenly added to the finex order book. Possibly with leverage too. I posted on here some time in 2013 or 2014 a prediction that if BTC were to be integrated with standard brokers, the price would immediately surge to $10K. This is what the rally has been all about.
I was under the impression that CME futures did not touch Bitcoin directly at any moment during the entire process. It's USD all the way. Am I wrong? They are futures contracts which means eventually at some date on the contract, the exchange has to buy actual bitcoins and deliver them. In addition, the futures prices will move the bitcoin price by mere arbitrage. Sorry but no. They are cash settled. It is a fiat bet on bitcoin price in $. Nothing more. Other players will move BTC price by arb. |
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$9500 approaching
$9499 Gdax
Edit: bang. $9500 on both Gdax and BFX.
BIG GREEN CANDLE.
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On CME the product details are all on their webpage. You can check for yourself.
They self-certify so they dont have to lodge until they intend to start trading. They are talking to the regulator because they don’t want to piss them off.
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I think there is much more than 1M bitcoins lost.
and when you google for these lost bitcoins stories most are really dated numbers in terms of value. You literally have to multiply the reported value 15 fold making it even more "head shaking worthy." (for want of a better term) So for example this familiar story I'm sure most of the legendaries/heroes in here have heard about the 7500 bitcoins lost valued at over a reported $5 million then that are now worth around $70 million. And this is just one story of many. It's mind blowing when you think about it. No one takes into account the dust left behind everywhere. I have one inaccessible wallet containing enough for a good night out year's salary. The other one has only dust enough for a really good night out. Still only makes me smile and shake my head at my own stupidity. To be revisited after the next batch of zeroes are handed out. Why is it inaccessible? You don't remember absolutely anything about the password you might have used or is it another thing? I have 1 ETH lost. I have the back up but don’t have the password because wrote the password down electronically and the file didn’t save properly. No seed with Mist. |
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I think there is much more than 1M bitcoins lost.
and when you google for these lost bitcoins stories most are really dated numbers in terms of value. You literally have to multiply the reported value 15 fold making it even more "head shaking worthy." (for want of a better term) So for example this familiar story I'm sure most of the legendaries/heroes in here have heard about the 7500 bitcoins lost valued at over a reported $5 million then that are now worth around $70 million. And this is just one story of many. It's mind blowing when you think about it. No one takes into account the dust left behind everywhere. |
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A question. Bitstamp seems to hopelessly trail the market. Bitfinex is high volume. Bithumb seems to have picked up the Chinese market. Gdax seems to be the price leader.
Do we need to forget about Bitstamp and focus on BFX, GDAX and Bitthumb?
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Edit: never mind - misread the chart.
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If you are on an iPhone using Safari it’s 10x more secure than a windows PC. Androids are a joke though.
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I was scared to see some strange scenario like 2 weeks ago, because i saw bitcoin going down now, bitcoin cash up (it went over 1600), unconfirmed transactions raising and it looked to me like someone is attacking this website. So there was just a bit of panic on my side
It’s a tactic as old as the hills. It’s also a mark of this rampaging bull market that a 5,000 coin dump on BFX has been digested with a slight burp. |
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On a sidenote => 10k by tomorrow?
I'm jealous... You $$$ guys will reach 10k very soon, while we €€€ chaps will still be at 8.3k... But there's still hope that 10k € will be reached by the end of the year. Edit: BitcoinTalk being DDoS'd now? Or too many rocket memes being posted? Side note Australian exchange BTC hit $12000 AUD I signed some people up to the Australian exchange over the weekend. Price was $10,500 when I signed them up. Their fiat will have hit overnight and they will be waking up now. They know what they are getting themselves into. Each has sworn a solemn vow not to sell for 3 years. |
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just claimed BTG
good moment to dump ?
I think Bitcoin will rampage and pull oxygen from all alts over the next couple of weeks. Personally I am not selling because I think it could play a role long term but selling now is a perfectly rational decision. |
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If you have nothing to eat you're still forced by your own body to find something to eat. This is why people have to cooperate to find/produce their food. Every member in such a group has rights and obligations. Your right is somebody else's obligation. Every obligation you have limits your freedom! Absolute freedom means no obligations and thus no rights. It means lack of society. It means absolute solitude and loneliness. Is that what you're trying to achieve? Of course, not!
So now you're being forced by your own body? You're not obliged to anyone. Nobody is obliged to you. You can voluntarily cooperate. Most people do not like voluntary interactions. Especially if they have nothing to offer other than calling for force. I define the level of a person's freedom - obviously in person to person relationship, not magical abilities - as: "The capability in refusing to oblige on the commanding will of another actor (person) without repercussion." aka "You have no power here!" This includes voluntary interaction, and, more importantly, the inability of the other actor to enforce his will with violence. A bit idealistic definition, and i think freedom has scale, not just a 0/1 state. Even emperors get killed sometimes, despite their immense level of freedom. Here’s where libertarian communities fall down. They fail to realize that with every right comes a corresponding obligation on others. As a simple example, the right of “freedom of movement” creates an obligation on others not to interfere with those are exercising that right. Further, rights themselves conflict. “Freedom of movement” conflicts with “right to exclude others from my land”. So what happens on the Tahitian seastead when person A owns the bit where the boats dock to deliver supplies? Can person A exclude others from docking their boats because it’s their land? Or can person B exercise their freedom of movement over that land? The reality is that the exercise of rights necessarily comes with compromise. Compromise looks a lot like modern society. Libertarians are just kidding themselves if they think they can have rights without obligations - because the exercise of rights necessarily imposed obligations on others. |
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Whoa whoa guys. One of our number has apparently done quite well from our common passion. Let’s not judge him too harshly for what he wants to spend his profits on. It’s not my cup of tea but there are worse possible choices.
I would strongly recommend anyone going into one of these situations not to take all their BTC with them. Never put all your eggs in one basket.
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We're not wealthy elite until the price is $10k gentlement.
Well done. I need a couple more reruns of 2017 first. Edit: looks like some profit taking happening at $9k. |
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