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Author Topic: IGMarket provides trades for Bitcoin  (Read 1112 times)
briannguyen
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April 09, 2013, 12:22:51 PM
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IGMarket is a leading financial company specialises in CFD trading, provides 4 options for traders to bet on the future exchange rate of bitcoin vs USD. See screenshot for more information. This opens a new way to invest on Bitcoin. Currently you can purchase bitcoin from bitcoin exchange such as mt.gox or btc-e or mine bitcoin using computer, graphical cards or ASIC mining devices.

The price has surpassed $200 and there is no sign of stopping. The trend attracts large amount of amateur and professional investors and the daily trading volume exceeds 100 000 BTC on mt.gox exchange.

http://www.bitcoinrumors.com/2013/04/09/igmarket-provides-trades-for-bitcoin/

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virtualmaster
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April 09, 2013, 12:43:52 PM
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The bitcoin price development is going to be backed step by step.

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kiko
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April 09, 2013, 12:47:36 PM
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This is FANTASTIC news!

From my trading platform:

Zomdifros
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April 09, 2013, 12:59:13 PM
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Wow, this is the best news of the week. A whole new realm of fiat is now opened up to the magical world of Bitcoin and they'll be storming through the gates.

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April 09, 2013, 01:09:00 PM
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Just digging into the numbers now.

Spread is clearly painful ~25-30%

ignoring that for a second. A GBP 10 bet requires 570 deposit, overnight 10% move in bitcoin would have yielded 100 in profit, so I make that 2x leverage.  This sounds about right for a market this volatile, most liquid markets on IG allow much more leverage than this.

The important thing here is that it's capital gains tax free.

I wish the periods were longer as rolling a position monthly is going to kill you here. These guys aren't stupid.
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April 09, 2013, 01:11:07 PM
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To be honest paddypower had Bitcoin bets and this is the same thing so it's not new, but it is good.

It's interesting because the step towards them offering it for sale as an investment is a bit smaller now, and IGMarkets is a huge platform for "everyday" investors which I've used for years, so there will, as a result, be a lot of demand from investors to place more opportunities on there.
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April 09, 2013, 01:40:36 PM
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Cant someone buy a million 250$+ contracts and than push the prie on mtgox over 250? This seems verry simple to do ?!?
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April 10, 2013, 01:11:22 PM
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Cant someone buy a million 250$+ contracts and than push the prie on mtgox over 250? This seems verry simple to do ?!?

Yes, exciting times ahead.
Think 'arms race'.
Bitcoinica, back then, seemed to have quite some influence in the charts. This here, nowadays, will be, well, exciting! :-)

Ente
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