Appears that the BTC-E Russian exchange are planning to offer stock & PM etc trading in BTC & LTC, like buy/sell AAPL with BTC
(pse move thread if this is in the wrong section, ty...)
Where is the press release for this?
They haven't announced it officially as yet, it was mentioned by their support (Mod) in the
https://btc-e.com/exchange/ltc_btc exchange chat forum just before I made this thread, you could PM him there for further info I expect.
<snip>
Smoovious: I'm on reaper
crazy_rabbit: Besides, I'd wait to see how supports annoucement of stock tradeing goes. You'll be able to buy stock with LTC.
crazy_rabbit: Or Gold.
Ismael: I don't know if that is going to work
Ismael: I know I'm not going to use that service
Smoovious: it'll work better than the DVC ones
BBtraders: crazy - u mean actual nse??
Ismael: I mean it sounds good, but I think its more risky than investing in Pirate
crazy_rabbit: You can already buy gold with BTC at other margin ttrading sites that won't be mentioned here.
Ismael: coinabul?
crazy_rabbit: BBtraders. thats what support said. Stock traiding and gold/silver.
Otoh: you know pirate is dropping his rates by 2% per week from after next pay-out
Ismael: gold/silver is doable, but I'm a bit weary about the stock thing
crazy_rabbit: Not coinabul. Something else, but it's essentially a competitior so I won't mention it.
BBtraders: damn --- that's pretty sweet
crazy_rabbit: Well they will probably stat with gold/silver. The stock part is probably a ways off.
Ismael: Theres soooo many issues laying in the way of selling stocks for BTC/LTC
crazy_rabbit: But No reason why they can't plug into the russian exchange.
crazy_rabbit: Why? There are lots of stock markets.
crazy_rabbit: Some are very small, some are large.
Ismael: Well, tax issues
Ismael: for one
HauntingShade: why is pirate shutting down his service Otah?
Ismael: second, its illegal to use other peoples
HauntingShade: Otoh
crazy_rabbit: I presume someone in Russia has figured out how well BTC-E is doing and would support them plugging into their stock market.
Ismael: funds* to buy stocks as a group
Otoh: nope, just trimming his rates
Ismael: Unless you get a certain license
MartinX: HauntingShade, Pirate is closing its doors?
crazy_rabbit: I don't see why they woulnd' tjust get a liscense.
Otoh: Noo
Smoovious: if it was illegal to use other peoples funds to buy stocks as a group, then mutual funds would be illegal
crazy_rabbit: They do like almost a million dollars a month in volume.
crazy_rabbit: That's enough to register as a small bank.
Ismael: Some people in Brazil tried that
Ismael: and they got in a bunch of trouble recently
crazy_rabbit: They will just do whatever paperwork they need to do and it's fine.
crazy_rabbit: Remember it's Russia, their laws work a little different.
Ismael: actually, there is one set of laws all related to the stock market
<snip> just now
