Ok, so I can't add myself. I'm in Chile where there are no ZIP codes. It doesn't allow me to save my Ad. Considering that the nearest traders are at 8.000km I feel a bit alone here  Why not have a map to click in where I am? Hmm OK, I will try to add that kind of feature. Just have to think a way to implement it... You can also try adding by a city/town name. However currently it might not work, since google has probably blocked our location requests... kind of frustrating, but I'm subbed here. While 2h ago the closest trader was more than 8.000km away, now it's *only* 7.000  |
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Ok, so I can't add myself. I'm in Chile where there are no ZIP codes. It doesn't allow me to save my Ad. Considering that the nearest traders are at 8.000km I feel a bit alone here Why not have a map to click in where I am? |
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I keep reading "Bitcoin Scamming Site". Sorry about that  Is bitcoinscamming.com still available? I see a lot of activity and interest in that area  |
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hagnah! Lets moderator-delete all those zero-value posts of +1/like/watching/sub that only serve to overcome the short-comings of the forum software rather than to fix them.
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Arbitrage generates higher %% opportunities for lower volume. If you want to move millions, BTC arbitrage is nothing for you.
If all arbitrage opportunities are taken, smaller exchanges get the liquidity they need to take off and people in more exotic countries will get their hands on bitcoin more easily. Only for that last point I am interested in non-USD arb opportunities.
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but if there was no profit to be made mining - why would anyone do it? in non-bitcoin economies, there's still massive amounts of computer power used and the like. it's all handled and paid for by banks and their transactions fees and interests rates. why, in the case of no available profit from any source, would anyone participate in an activity that would cost massive amounts of money in hardware and electricity?
With proof of stake, people would compete over the possible but not mandatory transaction fees at no costs at all compared to proof of work. It doesn't need thousands of computers crunching numbers to sign blocks. Once the proof of stake system would suffer a 51% attack from 1% of stake, stake holders would switch on mining to secure their stake in case no fees were paid leading to nobody mining at that point in time. if block creation takes ages, stake holders would start mining to protect their stake. |
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By the time the "annual mining revenues were in the $10's of billions" I hope we already moved towards proof of stake so the need to have transaction fees compensate the shrinking coin generation disappears and therefore the pressure to rise transaction fees also vanishes. Bitcoin is not about guaranteeing an income for miners. Mining should ideally not be profitable.
My instinct-no to proof of stake turned into a "we need it desperately at some point". I would love to stop generation early and switch to proof of stake. The massive generation now is why proof of stake would make the owners of bitcoin rich for "nothing".
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I'm interested in arbitrage because I can imagine, people in one country will not be eager to buy bitcoin when they see it is much cheaper in another country not because I have the means to do arbitrage myself. To my understanding, arbitrage provides liquidity to smaller exchanges and of course the more complicated it is to transfer money to or from that exchange, the higher are the opportunities for those doing it well. The post above mentiones something about instantly buying and selling at 2 exchanges which is only a necessity for if you don't compensate these structural weaknesses of some exchanges but try to profit on sudden movements. The former I'm sure exist more between different currencies. Bitcoins are simply not mined big style in the area of certain currencies. Slightly off-topic: for those into arbitrage, betsofbitco.in migh also offer an opportunity to do some arbitrage |
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hagnahh … and Gox got me again. My cash is in limbo and I sent it when the rate was around 5.10 every other hour. Somehow I bet they will report my cash incoming when we see a 6. Last time I sent money to them the price was at 2$ and they finally charged it when we were back at 4$. I want a fast track. Simple.... BitInstant Ok, so how exactly would that work when I only have German and Chilean bank accounts? With my expectations looking at the totally vanishing market depth at the bitcoin side, I would really not mind paying some % to get money there *now*. Yeah, BITINSTANT listen up: WHY U DONT HAVE UROP BANK ACCOUNT!? BECAUSE YORUP IS ABOUT TO COLLAPSE, THATS WHY This is are REEZON to throw in the saving belt, not to let us drown without merxy isn't it? Shouldn't BitInstant hire people in Greece now to sell Bitcoin in the street? |
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hagnahh … and Gox got me again. My cash is in limbo and I sent it when the rate was around 5.10 every other hour. Somehow I bet they will report my cash incoming when we see a 6. Last time I sent money to them the price was at 2$ and they finally charged it when we were back at 4$. I want a fast track. Simple.... BitInstant Ok, so how exactly would that work when I only have German and Chilean bank accounts? With my expectations looking at the totally vanishing market depth at the bitcoin side, I would really not mind paying some % to get money there *now*. |
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hagnahh … and Gox got me again. My cash is in limbo and I sent it when the rate was around 5.10 every other hour. Somehow I bet they will report my cash incoming when we see a 6. Last time I sent money to them the price was at 2$ and they finally charged it when we were back at 4$. I want a fast track. |
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OK! Im sorry! I made this exchange stuff up. IT IS IN REALITY the ship thing in international waters. Just tryed to poke some fun here. Hope no damage done.
Pacem!
S
Very funny man. Very funny. Next time please sink for a minute what damage you might cause! |
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What would a floating exchange be?
When I can I will of course program that as well. I need more info on how to do that.
uhm … not sure if joking … A floating exchange is one on a boat. This way you can evade tax issues by operating in international waters. |
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If you knew you could get the last bet in I guess it is ok to leave yourself unbalance and take care of it later.
But say you come across it with evenly balanced bets (50%) and you think Side A is 80% to win so you load up on Side A. Now someone else comes along and thinks side A is even more than 80% likely and they bet and now there is so much on A that you prefer B at these odds. You can't unbet A but you can bet on B now.
If you want to make sure you don't end up taking a wager you don't want no matter what happens then you need to bet both sides up front.
I wanna see you on a roulette table betting equal amounts on both red and black. Is this the kind of strategy advise people get at sealswithclubs, too? If all did that, nobody would win except the site owner even if everybody guessed exactly right the likeliness of every event. ... I guess you are just trolling given you are quite a bit into this whole gambling thing. |
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I wonder how the site shows exchange rates for one year back while to my understanding it's a new service??
The rates is in COP (Colombian Pesos) not USD. How is that an answer to my implied question? On the site I don't see when it was founded but this thread here just popped up now stating it was something new. If it's new, then how do you have exchange rates from before it was established? |
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Definitely more interesting than the other link but I miss non-USD exchanges. I am only curious and will not do arbitrage so don't bother if I'm the only one asking |
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ah! the site could be more fun. Why the artificial limit of betting 0.1? Now most bets have really low numbers which makes it hard to bet. I understand that you don't want to have micro-bets but for now I guess they would help a lot. Let me give an example: There is 0.2 in bets pro Facebook climbing above 35$ and 1.5 against. The betters put chances at 2/(15+2)=12%. If I say chances are higher, I might want to put my money with the statement but doing so would man I see facebooks chances at 3/(15+3)=17%. Sorry I don't feel that confident but I would chip in 0.05 for the chance of getting 0.3BTC=1.5$. This would again attract the pessimists which would make me more confident to put in more … and in the end, we all pay more With all the bets starting at 0.1BTC this is even worse as going with the inital better would mean shifting chances by 100%. While I see no problem in smaller bets, I guess the essential part is that the submitter should bet at least 10x the limit for subsequent bets. With 0.1BTC as is that would be 1BTC for the initial submitter or as I would prefer it, 0.01 for subsequent betters. Feature request: Print the balance in % as in my example I think you are supposed (as in that's the good strategy) to bet on both sides in the proportion that represents your guess at the odds. If the odds in my head are x% and the others show me y%, the winning strategy is to bet according to that and not put money on the loosing side. If 99% say YES and I see a 10% chance for NO, why should I add to YES 10 times the amount that I put to NO when YES already is at 100x NO and thus 10x over rated? That makes no sense. |
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Yes, the first one is an interesting link to bookmark. Thanx for that. Great would be of course a top arb list of all exchanges with a filter "last trade younger than x days". |
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I wonder how the site shows exchange rates for one year back while to my understanding it's a new service??
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