Hi,
is the websocket down?

Perhaps they're looking at even larger profits with that venture. You're seriously oversimplifying our world.

Follow your argument to its logical conclusion and anything anyone should ever do is buy a shitload of BTC on margin on Bitfinex. Obviously that's silly. You need actual investments, not just financial investments, for BTC to take off.

And this: a lot of bitcoiners *think* they know how fiat money works, except they don't. They're just a bunch of fucking loonies and conspiracy theorists who think they're on to something.

Smarter people get their hands on a lot of fiat money, with which you can still buy bitcoin last time I checked. Works better than the other way around.

So many flawed assumptions

"BTC would almost certainly increase in value faster than equity in a USD-reliant BTC-related business"
Dude, even with a bullish outlook that's less than certain, and even so: what about risk-adjusted returns?

"ASIC manufacturers are an exception since they're basically loaned the BTC for a long length of time (ASICMiner excluded), which gives them a major long position."
ASIC manufacturers are massively long BTC? Bunch of idiots. They should hedge that. And maybe they do!

It's a free world, buddy, you do what you want with your hard-earned money.

But in my experience as a trader at a major investment bank, bad spelling correlates with bad attention to detail, which also correlates with losing boatloads of money.

Here's my prediction for BTCUSD: price will go up, price will go down. No one has any fucking clue.

If you're paying for some "commentary" with spelling mistakes, you deserve to lose money.

Not gonna work. Just setting BTC up for a bigger fall.

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Very interesting. I don't have the time myself to operate such a website, but would make consistent, automated markets on it.

Interesting.

I hope you know what you're doing. I'm an options market maker, working as a trader at a major investment bank - and this shit is risky. I personally wouldn't trade such a product without 100% initial margin.

Is it me or the websocket has been down for days? Even my most basic implementation is silent.

Hi,

I would like to become a full fledged member. I discovered BTC a few months ago and bought a few to test it out, but at the time I thought it was too far from the mainstream.

Now with the increased publicity, I think it's got a chance to become more widely adopted and I would like to one day become a valuable member of the community. I don't devolve much time to the subject at the moment because I log a ton of hours in my day job. However, I think that my skillset could be of interest to the community. I obviously don't want to reveal much here, but I occupy a major function at a very prominent financial institution, so I understand the actual workings of markets better than most people. Especially central banks :-)

Thanks

Re: price swings and how they affect merchants - there's a menu cost. You need to change your price as BTC moves around since your inputs are likely denominated in your local currency, but your output is priced in BTC.

Extremely interesting post. I think you hit the nail on the head except that I doubt valuation is driven by a few key players. What would be their advantage, to sell at an inflated price? The market won't be liquid enough for them to dump their holdings and make a profit.

I think it's just a case of many people buying in due to recent publicity.

ahah, brilliant

This is ridiculous.
By the way borrowing to buy bitcoin, hide them and then default is a fraudulent bankruptcy and would get you jail time in many countries.

Hi.
I use MtGox to exchange bitcoins and I created a login to complain about their service and ask for support.