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Same for me too. Slightly frustrating as I want to buy there right now.
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Bitcoin transfer seems very slow right now. Taken nearly 3 hours to verify and nothing yet up in my wallet
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I'm not desperately concerned about it as it doesn't really affect my strategy, but the size of the blip (I expect a similar blip the other way to correct at some point too) indicates an event of some kind. I was just wondering if anyone had any ideas.
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There was a minor crash last night most markets fell around 7% in a few hours, this occurred not long after a price spike. Does anyone have an explanation as to what factors may have influenced this?
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closed until June 26th 15:00 GMT, but since they have changed so many times I wouldn't be amazed if it was later
Thanks, is there any way of giving reputation or liking post on this forum. This is information I really could have done with knowing 2hours ago. |
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Anyone got any idea of when they might actually start trading?
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Can't believe there are no takers for this. Look at the exchanges in Europe vs the US do the currency conversions.
This is a no-brainer, seriously. Someone must be interested.
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Would like to trade on the US exchanges but it is very too complicated/costly/time consuming to get the funds into/out of the exchanges.
Anyone interested in partnering up?
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Yeah, I made 12.3% on day trading bitcoins in the past 2 days. Haven't done any mining at all. At this rate I'll be a billionaire before the end of the year  |
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fern I was looking at that also. I know paypal you can convert between usd/gbp etc. but that does us no good. even with bitcoin7 within there own markets euro/usd etc there is a bit of a spread.
The only way to do it as far as I can tell is to have a local account in each country that you want to trade currencies in. Then have a pool of cash in each, keep a record of your trades separately with your arbitrage calculations and then make your transfers periodically. Of course you are exposing yourself to risks from currency fluctuations but USD/EUR/GBP is a good bit more stable than BTC so this should not be a huge problem in the short term at least. |
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Well I guess if it were easy everyone would be doing it.
I think there is a fair bit of scope for it in the bitcoin markets
just a quick look at bitcoin charts reveals thUSD @ 13.41 and Britcoin @ 9.76 XE says USD->GBP @ 1.62
9.76 x 1.62 = 15.8 so the Britcoin market is effectively trading a couple of $ above the thUSD right now. Even allowing for currency conversion costs you could make instant profit on that.
Anyone got any clue how to set up a US account from the UK?
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Just started doing a bit of trading (never done any other trading) and already I have a few criteria: - High volume, the lower the volume the longer it takes to make a trade and the bigger the difference will be between ask/bid. Also low volume makes it difficult to make larger trades (not that that is a problem for me yet)
- Percentage or very low trade fees, I'm only trading a few bitcoins at time so any fixed fee is going to stop me trading completely. I don't see any reason not to give a share to the exchange but it needs to be a very small percentage.
- Decent amount of movement during a 24-48 hour period, right now I am doing it for fun and I don't want to have to wait days or weeks before buying or selling
- Ease of transfer of funds, there is no point doing any trading if I can't deposit or withdraw funds
- Since the volume I am trading is so small security is not really a major issue for me but I would be ultra pissed if the whole Mt Gox thing happened to any of the exchanges I use.
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Basically I want to be able to pump the markets where there is significant disparity between bitcoin prices and currency markets.
eg (not real life!)
Britcoin is Selling BTC @ £10
Tradehill is buying at @ $10
Echange rate USD -> GBP = 1.6
- Sell 100 bitcoins for £100 on Britcoin
- Buy $160
- Buy 16 BTC for $160 on tradehill
- Sell for £160 on britcoin
Obviously there are considerations like exchange times and clearance times on this. I could do this on paper and just use pooled funds to actually make the trades (ie don't make the currency exchange untill later because I already have liquid funds in both currencies)
The major hurdles I have are:
- I don't have a quick or easy way to add or remove funds from US exchanges, I have a US passport but live in the UK
- Even if I had a US bank account what are the charges for transferring funds and how long does it take? I could set up a USD account in the UK so that the currency trading is already done.
Any ideas?
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Rather than look at it as good or bad, look at it in how things have historically gained traction when they were new.
- When the 'old west' was opening up one of the big draws was the presence of saloons, cat houses, and gambling parlors.
- When magazine subscriptions were starting to take off publications like Playboy were there.
- The debate between Betamax and VHS was partly settled because of video porn.
- The beginnings of the internet itself, while largely created for scientific and governmental purposes, contained large amounts of porn, wares, and hacking (and still does).
Many people may have looked down their noses at such things, but you can't deny the momentum that they helped create. So I ask back, Bitcoin should be any different? We're seeing a few merchants dip a tentative toe into the market, but they are few. What are most of the postings here about? SilkRoad and other black market places and lottery (gambling) type places. Getting good traction in the illegal/illicit areas seems to be a harbinger of better things to come.
I may be totally wrong, but that's how I see it.
Yeah this is basically what I was thinking but a lot of the naysayers cite the possible regulation by the US and EU as potential reasons bitcoins will fail |
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Yeah I'm not really debating whether or not we should accept, it shun it or condem it. I am just interested in whether people think that the benefits of the increased use outweighs the risk of regulation
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I think it has been established that bitcoin value will go up with usage which we would porbably all agree is a good thing.
If illicit goods and services are traded with bitcoins that will presumably increase the amount of people using them, which should push up their value, right?
Obviously there is the ever present risk of governmental regulation which has the potential to shut things down completely.
What do you guys think, good or bad?
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