Bitcoin in RALLY mode

[kiba]

I am thinking a possible downward spiral to the 0.060 price range since there were a large of bids in the 10,000 bitcoins were.

[Bimmerhead]

Now this is what I call a chart!



Sort of what the DJIA will look like next month except in reverse. 

[S3052]

Bimmerhead:

I couldnt agree more.

 

If the exponential rally of BTC goes further (which is always a possibility, especially given the high breakout volume), we may be able to buy the whole DJI in a matter of years with 1 coin ...

[ribuck]

Look at the "Depth of Market" chart.
Only four bids? That doesn't look right.



[edit: There is something wrong. Apart from anything else, I have a bid at 0.065 which should be shown]

[S3052]

The charts and table only show a certain range.

If your bids and asks are outside the range, they are just not shown.

As long as they are in your order book, they are 100% active.

[hugolp]

Sort of what the DJIA will look like next month except in reverse. 

The Dow will go down in term of gold, but in term of dollars it will rally. Bernanke is there to make sure it happens.

[S3052]

Im my opinion you will be massively wrong.
The DOW will also crash in nominal terms.
Below 1000 points between 2014-2016

[hugolp]

Im my opinion you will be massively wrong.
The DOW will also crash in nominal terms.
Below 1000 points between 2014-2016

Lets bet. 1000 bitcoins that the DOW does not touch 1000 points before 2016. Deal?

kiba what you are working on could come handy now.

[S3052]

Deal

[Babylon]

Im my opinion you will be massively wrong.
The DOW will also crash in nominal terms.
Below 1000 points between 2014-2016

Lets bet. 1000 bitcoins that the DOW does not touch 1000 points before 2016. Deal?

kiba what you are working on could come handy now.

Yes it would.  I want a piece of that action (on the DOW will not get that low side) but it is a long term bet and I don't know anyone on the forum well enough to want to make a bet that I wont be able to settle for 6 years.

[S3052]

great, i will win more if more people add bets on DJI below 1000.

i accept more and be 100% willing to wait a couple of years

[Bimmerhead]

great, i will win more if more people add bets on DJI below 1000.

i accept more and be 100% willing to wait a couple of years

I agree with your prognosis S3052, but I hope you've got those bitcoins in the bank now at 6 cents in case they skyrocket to $10 and the Dow only hits 1,005!

[S3052]

[quote auth ;)or=Bimmerhead link=topic=1388.msg16404#msg16404 date=1286715992]

great, i will win more if more people add bets on DJI below 1000.

i accept more and be 100% willing to wait a couple of years

I agree with your prognosis S3052, but I hope you've got those bitcoins in the bank now at 6 cents in case they skyrocket to $10 and the Dow only hits 1,005!
[/quote]

Yes, indeed!

[nelisky]

Im my opinion you will be massively wrong.
The DOW will also crash in nominal terms.
Below 1000 points between 2014-2016

Lets bet. 1000 bitcoins that the DOW does not touch 1000 points before 2016. Deal?

kiba what you are working on could come handy now.

<shamelessplug>You can also ask TTBit to get that on bitcoinsportsbook</shamelessplug>

[TTBit]

Im my opinion you will be massively wrong.
The DOW will also crash in nominal terms.
Below 1000 points between 2014-2016

Lets bet. 1000 bitcoins that the DOW does not touch 1000 points before 2016. Deal?

kiba what you are working on could come handy now.

<shamelessplug>You can also ask TTBit to get that on bitcoinsportsbook</shamelessplug>

Yes. Please let me know of the details, and bitcoinsportsbook will create the wager. If it is something as simple as DJIA close on a certain date, BSB will also make a market if needed.

BSB will be happy to create and make monthly or yearly wagers for spot close of gold/silver/stocks, etc.

[S3052]

My idea was DJI trades below 1000 points sometime between now and Dec 31, 2016. Whenever it trades below that level, also intraday, it is a win.
The only question that remains for me is who can I ensure that the BTCs are still in this account by that time?

Separately, we can also have short term bets

DJI
below 10,000 by Nov 30, 2010
below 9,000 by Jul 31, 2011
above 11,260 by Dec 31, 2010
above 14,200 by Dec 31, 2011

[TTBit]

My idea was DJI trades below 1000 points sometime between now and Dec 31, 2016. Whenever it trades below that level, also intraday, it is a win.
The only question that remains for me is who can I ensure that the BTCs are still in this account by that time?

Separately, we can also have short term bets

DJI
below 10,000 by Nov 30, 2010
below 9,000 by Jul 31, 2011
above 11,260 by Dec 31, 2010
above 14,200 by Dec 31, 2011

Well, your trust would shift from him to bitcoinsportsbook, whatever that is worth. Coins would have to be put up. Problem I see is BSB is a public site and anyone could bet along with you and it would change the odds.

[off topic]
Maybe a feature of BSB should be to have private wagers. You create a wager and send a password to friend to put up his coins. BSB could declare a winner (for a small fee) or just hold the coins and let bettors settle (for a smaller fee). Or, not even hold coins and just show proof of wager and settlement status.
[/off topic]

[S3052]

Hugolp and Babylon,
reading the above, I'd like to bet exclusively with you. How can we set up this in a stable way?

[Babylon]

Hugolp and Babylon,
reading the above, I'd like to bet exclusively with you. How can we set up this in a stable way?

As a straight, even odds bet?

I figure we need a trusted party to serve as an escrow service.  Either that or some sort of personal relationship such as personal info on one another.  I don't want to tie up more than 100 bitcoins for that long personally.  (I know, that's only about 9 dollars right now, I expect it to be more by then though, and I am actively trading back and forth to make money at the moment)

If it is set up at a bitcoin futures market and we are the first ones in I think we'd have even odds as well, although I might be wrong about that.

[hugolp]

Hugolp and Babylon,
reading the above, I'd like to bet exclusively with you. How can we set up this in a stable way?

As Babylon said we need someone to hold the bitcoins or at least a part of them until the bet can be resolved.