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Author Topic: Geeks and Wallstreet  (Read 1155 times)
dacoinminster
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June 08, 2011, 02:55:10 PM
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Geeks: Here's the internet. It changes everything.
Wallstreet: Nifty! Here's billions of dollars!!
Geeks: Wow, thanks! Changing everything can be really profitable. What can we do next? . . .

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TraderTimm
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June 08, 2011, 03:07:12 PM
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Geeks: Here's bitcoin. It changes everything.
Everyone Else: We don't get it, we're more comfortable with our soft green toilet paper.
Geeks: Cool, more for me!

fortitudinem multis - catenum regit omnia
dacoinminster
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June 08, 2011, 03:10:25 PM
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My personal opinion is that when wall street truly gets it, the bitcoin speculative bubble will make the internet bubble look tiny in comparison.

MarketNeutral
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June 08, 2011, 03:17:49 PM
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Wall Street is watching bitcoin very closely. They're waiting for more mature exchanges, deeper liquidity vis-a-vis market makers, and for their compliance officers to get up to speed. Some have probably jumped in already with their own money.
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June 08, 2011, 03:18:08 PM
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My personal opinion is that when wall street truly gets it, the bitcoin speculative bubble will make the internet bubble look tiny in comparison.

True, but they won't be happy the 1-block-per-ten-minute throttle will effectively kill any attempt to build a High Frequency Trading system. I on the other hand, am ecstatic about that fact.


fortitudinem multis - catenum regit omnia
dacoinminster
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June 08, 2011, 03:24:02 PM
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My personal opinion is that when wall street truly gets it, the bitcoin speculative bubble will make the internet bubble look tiny in comparison.

True, but they won't be happy the 1-block-per-ten-minute throttle will effectively kill any attempt to build a High Frequency Trading system. I on the other hand, am ecstatic about that fact.



Sorry to disappoint you, but HFT will definitely be possible on the black market exchanges. They will just use bitcoin to get the money in and out.

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June 08, 2011, 03:32:51 PM
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My personal opinion is that when wall street truly gets it, the bitcoin speculative bubble will make the internet bubble look tiny in comparison.

THIS. Everyone bombard Jim Cramer on Mad Money and get him to talk about it.
realnowhereman
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June 08, 2011, 03:39:10 PM
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My personal opinion is that when wall street truly gets it, the bitcoin speculative bubble will make the internet bubble look tiny in comparison.

True, but they won't be happy the 1-block-per-ten-minute throttle will effectively kill any attempt to build a High Frequency Trading system. I on the other hand, am ecstatic about that fact.


Within an exchange, trades are not done on the bitcoin block chain, so there is no ten-minute limit.

It's not inconceivable that should Wall Street get involved, that multiple exchanges will get together and have credit agreements that allow you to transfer between them instantly too -- again outside the block chain.


1AAZ4xBHbiCr96nsZJ8jtPkSzsg1CqhwDa
proudhon
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June 08, 2011, 03:39:36 PM
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My personal opinion is that when wall street truly gets it, the bitcoin speculative bubble will make the internet bubble look tiny in comparison.

THIS. Everyone bombard Jim Cramer on Mad Money and get him to talk about it.

No.  Please don't.
SgtSpike
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June 08, 2011, 03:41:17 PM
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My personal opinion is that when wall street truly gets it, the bitcoin speculative bubble will make the internet bubble look tiny in comparison.

True, but they won't be happy the 1-block-per-ten-minute throttle will effectively kill any attempt to build a High Frequency Trading system. I on the other hand, am ecstatic about that fact.
Maybe I don't understand how a HFT system works, but isn't it already possible to make as many trades as you like as quickly as you like within an exchange, irrelevant of the speed of new blocks?  Or is it some form of arbitrage?
TraderTimm
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June 08, 2011, 03:55:58 PM
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How are they going to settle their trades then? In US dollars? That would be hilarious. High Frequency Trading depends on rapid price changes, and exchange kickbacks, or 'rebates'. I don't see Mt. Gox catering to that, and when they have to settle up at the end of the day, they'll have to wait for confirmations on their BTC.

Don't see how it is viable for HFT to creep into the system using BTC in any fashion.

fortitudinem multis - catenum regit omnia
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