How long until wall st gets involved?

[pubitcoiner]

how long until professional traders get involved in this market?

[Ja]

It looks like it's catching on more and more. http://coinlab.com/ is an example of it getting serious.

[nak]

I think they're already getting involved. The crash today smells extremely fishy, and I wouldn't put it past some of the wall street cartel.

[Derechef]

There was an article about bitcoin being the traders new toy some months ago.

[sauna]

I think it will be quite a long time. Bitcoin as a financial instrument is pretty boring, no options, no futures, no swaps, etc. I would be more worried about some of the whales who own tens of thousands of bitcoins. They can crash the market on a whim.

[bct2426]

I think they're already getting involved. The crash today smells extremely fishy, and I wouldn't put it past some of the wall street cartel.

I could not agree more. All the 0.02BTC transactions processed one after another; it's hard to accept it as a panic sell frenzy.
I think it started as an attack, to start lowering the price and once confidence was also lowered, all those in BTC just for the money sold out.

Also, there was a redditor on the Bitcoin subreddit that gave away around 63BTC just before the crash.
Doing a bit of research revealed that just before this, he received 50BTC from an address with no IP.

All I know is that something was wrong with yesterday's events.

[Jay0646]

When you look at the charts there is clearly some techincal trading going on.

[A_Pickle]

I'd say they already have, and they probably started a long time ago.

One doesn't create a decentralized, anonymous, low-cost system of sending payments to anywhere on Earth without attracting at least SOME attention of Wall St.  Frankly, I'm hoping it does -- as crazy as it sounds, I think bigger firms getting involved would add some stability to the whole thing.

[btctrack]

they are on their way.



https://exante.eu/press/news/266/

[impossible2short]

traders have been toying with bitcoins as a bit of mind candy/ speculation for many months.  CNBC has had plenty of articles citing this.  But the real action starts when bitcoin derivatives (regulated or otherwise) are created.  The start-up exchange announced a few days ago (with a pathetically small $500,000 in start-up funding) will offer btc derivatives (futures, options, and short sales).  Once this type of exchange comes online and proves to be secure, stable, and financially sound, the btc trade volumes will explode making the "DDoS" problems witnessed recently seem like a drop in the daily volume bucket.  Why?...

Because, once derivatives are involved, there will be leveraged financial incentive to manipulate btc pricing.  Then, it becomes a matter of who has the "biggest swinging d#$%" (how traders view themselves, not my terminology).  It doesn't take a wall street firm to be involved to attract these idiot "master's of the financial universe".  Every trader dreams of one day cornering a market, similar to how Soros and others made their billions.  Bitcoin offers a limited supply, thinly traded market opportunity, and the derivatives market provides the means.

They are coming.  Many btc believers will get fleeced in the volatility.  Traders will brag that they are "outsmarting" the "sheeple" because that is what they see their equities and bond colleagues saying about themselves in regards to the regulated markets when the go to work every day.

Just as the traders need to educate themselves on the technological considerations (secure themselves from professional hackers), those that know and understand the technological aspects of btc need to quickly educate themselves on the implications of professional traders in their midst.

Currently I see both sides overestimating themselves, and their ability to anticipate and manage the threat from the side they do not understand.  The professional traders will blindside btc hackers, just as hackers will freely rob ignorant, traders.

[duketogo]

they are on their way.



https://exante.eu/press/news/266/

Interesting - thx for that link.

[duketogo]

they are on their way.



https://exante.eu/press/news/266/

Interesting. Thanks for that link.

[duketogo]

they are on their way.



https://exante.eu/press/news/266/

Interesting. Thx for that link.

[eleight]

Just as the traders need to educate themselves on the technological considerations (secure themselves from professional hackers), those that know and understand the technological aspects of btc need to quickly educate themselves on the implications of professional traders in their midst.

Currently I see both sides overestimating themselves, and their ability to anticipate and manage the threat from the side they do not understand.  The professional traders will blindside btc hackers, just as hackers will freely rob ignorant, traders.

This is well said.

[AlgoSwan]

Today's violent downside action shows they're already involved. No? Ok, other possibilities may come with the word ASIC. Here are my conspiracy for todays chrash (yes it is called chrash in traditional trading/investing terminology):

BFL and Avalon sold almost all their BTC's today. Why? Simple. They will deliver all the orders. Here are my hypothesis:

BFL and Avalon (mostly BFL) started taking orders but not delivering or very late delivery. Half of this collected funds gone into hardware and they've started mining with that monsters. Naturally difficulty of BTC mining gone wildly and the price of course. They also supported the major exchanges and probably manipulated BTC prices there to grab attention for their monster ASICs. And guess what? Trap is well worked. People with greed and deep pockets hit the buy button of this ASICs either by fiat or by BTC. You see? They took the hard-worked and earned BTC's by playing our greed. No problem. We took the bait. And BTC prices spiked like go to the moon way. And chrashed in one day! Yes it only took one day to chrash its prices. It is not about DDOS, it is not about some deep pocket fund manager manipulation. This must come from an insider. And they are insiders. BTC is like a jungle for WALL st. guy. They are very well trained on unlimited supplies (call it fiat). But hey,,, BTC has a limited supply. See? This is very very different from stock market or foreign exchange markets or bond markets. What do you think?