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Since this is so new I'd suspect it would be wise to let some of these traders establish their brand before latching on to any one of them (there's very few providers at this point anyway). Something to keep an eye on tho.
Definitely. I would wait for the Master accounts to establish trading history to determine the ideal account to follow. There is also the potential for manipulation in such an illiquid market as Bitcoin. It would be a good idea to wait a while before jumping in. |
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The arrangement is determined by the owner of the Master account. Before following the Master account a Slave account must agree to the terms. Typically if the PAMM trades result in losses then there is no fee due to the, "Master." It is usually a function of positive returns [profits].
So, just as an arbitrary example if I were the Master Account holder I could set the conditions such that Slave Accounts owe me 0.5% of profits made while Slaved to my account. If trades lose money profits are negative so I am not owed anything. If profits in your account from following my trades are 1 BTC, I will automatically receive 0.005 of that and you will keep 0.995.
You will have to check the specific conditions set by the Master before opting into their account as a Slave.
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It is essentially a form of wealth management for FOREX. If you were to sign up for a Slave account, you can select a Master account to follow. That means that your account will automatically replicate the trading strategy of the Master account in real time. Your account will execute the same trades as the Master account, but scaled for the total capital in your account. When the Master profits, the Slave profits. Slaves profiting is in the best interest of the Master.
You can view the performance and historical trades of Master accounts to decide which to, "follow" and you can unpair your account with a Master at any time.
You will NOT be able to see the exact trades happening in real time because if that were allowed people could just report real-time trades of top traders to other users without benefiting the Master, essentially removing all of the incentive for successful traders to use Master accounts. However, you can view the trades after a period of time that I believe will be determined in the agreement set by the Master in this case.
Basically, you are leeching off of the strategy of a Master and in return giving them a portion of any profits. Your account will trade as a clone of the Master account while paired, but scaled to fit your total available trading capital. All of this is automated and the Master doesn't have access to your account.
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This seems like a very, "pumpy" article. Unnamed sources being referenced while everyone involved declines comment. It doesn't seem like any really new information has come to light here. I am sure NASDAQ is doing their due diligence on cryptos, BTC in particular, but you would be hard-pressed to find a large entity in the financial services industry that isn't doing so right now.
Oh boy would it be fun to watch the price action if NASDAQ were the first to the table though. Bitcoin trading would make some of the craziest IPOs look like a flat line.
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That's the method that gets you to the top in Silicon Valley: steal an idea -> tweak slightly -> profit.
I wouldn't worry too much about it, but this is not the fantastic news some sources are making it out to be. That's why we try to avoid all the fluff and give you the news you actually need.
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Each block currently only carries 0.1btc transaction fees, often less than that. That is only 0.4% of block reward. Miners are not going to care even if it fee doubles.
Big businesses accepting bitcoin will eventually take prices back to $1000 level. Hope it comes before end of the year.
Dish is expecting to start taking payments in Q3 of this year. I would bet a number of huge brands will be watching closely to see what kind of revenue they generate and how smoothly transaction processing goes. |
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A little on the impact big business acceptance will have on bitcoin price http://bitcoinbulls.com/big-brands-bitcoin-price/Our tech writer is speaking with some Apple folks tomorrow about what the App Store review guideline changes really mean for bitcoin. Big things coming. |
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I would trust Coinbase more than anyone else. I don't see any reason to keep all of your crypto holdings in an online wallet though, especially if they are significantly large.
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That depends what your intentions are. Do you just want to buy and hold, do you intend to trade actively, or do you just want to buy a small amount for a single transaction? Are you trying to be as anonymous as possible or do you care? Generally I would say Coinbase is the most convenient option for people in the US and BTC-e is another good option, but BTC-e customer support can really suck if you don't speak Russian, where Coinbase has excellent support. Here is a breakdown of basic Bitcoin exchange reviews for whatever use you desire. |
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