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kiko
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April 29, 2013, 02:27:41 PM |
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13x leverage on bitcoin! Are these brokers insane?
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ThePok
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April 29, 2013, 02:34:16 PM |
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only 4x ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) 13 would be too cool ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
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cbeast
Donator
Legendary
Offline
Activity: 1736
Merit: 1010
Let's talk governance, lipstick, and pigs.
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April 29, 2013, 02:43:08 PM |
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They offer a demo account to try-before-you-buy with no risk.
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Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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kiko
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April 29, 2013, 02:49:19 PM |
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only 4x ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) 13 would be too cool ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) Oh, yeah you're right. I clicked around a bit, must have been on a different page when I looked at the stats.
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seleme
Legendary
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Activity: 2772
Merit: 1028
Duelbits.com
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
April 29, 2013, 06:00:09 PM |
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The site is not available from United States Bosnia neither but that's not surprise, US is.. guess it's only for some private bitcoin island ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
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misterbigg
Legendary
Offline
Activity: 1064
Merit: 1001
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
April 29, 2013, 07:30:53 PM |
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What kind of bullshit is this? Are they set up to send and receive Bitcoin deposits? Or is this purely "paper Bitcoin?" (i.e. notional). Is everything cash settled or can you withdraw Bitcoins after a purchase?
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StarenseN
Legendary
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Activity: 2478
Merit: 1362
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April 29, 2013, 09:04:28 PM |
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^ It's CFD bitcoin trading so like paper yes.
Hmm... I'm dealing with the software but can't find the BTC/USD to trade with. Do some other people have the same issue ?
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Grinder
Legendary
Offline
Activity: 1284
Merit: 1001
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April 29, 2013, 09:23:49 PM |
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Be aware that like most internet FX sites, this is a more of a gambling site than a currency trading site. The deposit bonus and this point in their 44 page user agreement proves that pretty clearly: 24.1.7. you will not enter into any Transaction for the purposes of arbitrage, scalping or to exploit any temporal and/or minor inaccuracy in any rate or price offered on the Trading Platform; positions held for a short timeframe are considered to be scalping.
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Loozik
Sr. Member
![*](https://bitcointalk.org/Themes/custom1/images/star.gif) ![*](https://bitcointalk.org/Themes/custom1/images/star.gif) ![*](https://bitcointalk.org/Themes/custom1/images/star.gif)
Offline
Activity: 378
Merit: 250
Born to chew bubble gum and kick ass
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April 29, 2013, 10:18:02 PM |
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I do not mind founding the account at Plus500 with a few bucks required just to get a reasonably reliable real-time data feed + to get ability to perform basic technical analysis. Did I say I wouldn't mind? - Heck! - I'd love to ![Grin](https://bitcointalk.org/Smileys/default/grin.gif)
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StarenseN
Legendary
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Activity: 2478
Merit: 1362
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
April 30, 2013, 12:09:37 PM |
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misterbigg
Legendary
Offline
Activity: 1064
Merit: 1001
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
April 30, 2013, 06:25:31 PM |
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This is pure bullshit - no Bitcoins actually change hands. This is a gambling website, and you are betting against the house. It's called a "bucket shop:" From http://en.wikipedia.org/wiki/Bucket_shop_%28stock_market%29As defined by the U.S. Supreme Court a bucket shop is "[a]n establishment, nominally for the transaction of a stock exchange business, or business of similar character, but really for the registration of bets, or wagers, usually for small amounts, on the rise or fall of the prices of stocks, grain, oil, etc., there being no transfer or delivery of the stock or commodities nominally dealt in."[1] People often mistakenly interchange the words bucket shop and boiler room, but there is actually a significant difference. A boiler room has been defined as a place where high-pressure salespeople use banks of telephones to call lists of potential investors (known as "sucker lists") in order to peddle speculative, even fraudulent, securities. However, with a bucket shop, it could be better thought of as a place where people go to make “side bets” – similar to a bookie. Plus500 is a bucket shop and cannot accept U.S. customers (because bucket shops are against Federal regulations): How to recognize a Bucket Shop broker: http://ezinearticles.com/?How-To-Recognize-A-Bucket-Shop-Broker---Six-Signs-of-A-Fraud-Brokerage&id=6699723Plus500 Review (indicates that they do not accept U.S. customers): http://fxbuild.com/plus500-review/
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BitSmile
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April 30, 2013, 10:18:05 PM |
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Now it's the first thing popping up if you google bitcoin. You can't withdraw btc, it's like paper silver. They're in it to make money, not making bitcoin.
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marcus_of_augustus
Legendary
Offline
Activity: 3920
Merit: 2349
Eadem mutata resurgo
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
April 30, 2013, 11:20:13 PM |
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Now it's the first thing popping up if you google bitcoin. You can't withdraw btc, it's like paper silver. They're in it to make funny money, not making bitcoin.
fixed.
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2_Thumbs_Up
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May 05, 2013, 10:06:22 PM |
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This is pure bullshit - no Bitcoins actually change hands. This is a gambling website, and you are betting against the house. It's called a "bucket shop:"From http://en.wikipedia.org/wiki/Bucket_shop_%28stock_market%29As defined by the U.S. Supreme Court a bucket shop is "[a]n establishment, nominally for the transaction of a stock exchange business, or business of similar character, but really for the registration of bets, or wagers, usually for small amounts, on the rise or fall of the prices of stocks, grain, oil, etc., there being no transfer or delivery of the stock or commodities nominally dealt in."[1] People often mistakenly interchange the words bucket shop and boiler room, but there is actually a significant difference. A boiler room has been defined as a place where high-pressure salespeople use banks of telephones to call lists of potential investors (known as "sucker lists") in order to peddle speculative, even fraudulent, securities. However, with a bucket shop, it could be better thought of as a place where people go to make “side bets” – similar to a bookie. Plus500 is a bucket shop and cannot accept U.S. customers (because bucket shops are against Federal regulations): How to recognize a Bucket Shop broker: http://ezinearticles.com/?How-To-Recognize-A-Bucket-Shop-Broker---Six-Signs-of-A-Fraud-Brokerage&id=6699723Plus500 Review (indicates that they do not accept U.S. customers): http://fxbuild.com/plus500-review/ So? You place bets on wether the price will go up or down. What's the problem? Are you against gambling? This seems like the way speculation should be done in a free market. It's actually a more effective way of speculating since you remove the overhead of dealing with physical products. CFD trading still has an indirect effect on the bitcoin price the same way actual trading of bitcoins would. If there is a lot of buying pressure on the CFD it will drive the price up making it diverge from the real bitcoin price. This would create an arbitrage opportunity, meaning you could short the CFD and buy bitcoins and gain regardless of where the price goes, giving you a riskless* return. Doing this would drive both prices towards eachother again. So again, what is the problem with this? The only effect of people trading these instruments will be increased volume on regular exchanges from people arbitraging. More people having a say on the price is good since it reduces the power any single individual have. *There is still the third party risk of a company with your money going bust etc.
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kjlimo
Legendary
Offline
Activity: 2114
Merit: 1031
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
May 06, 2013, 01:51:29 PM |
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This is pure bullshit - no Bitcoins actually change hands. This is a gambling website, and you are betting against the house. It's called a "bucket shop:"From http://en.wikipedia.org/wiki/Bucket_shop_%28stock_market%29As defined by the U.S. Supreme Court a bucket shop is "[a]n establishment, nominally for the transaction of a stock exchange business, or business of similar character, but really for the registration of bets, or wagers, usually for small amounts, on the rise or fall of the prices of stocks, grain, oil, etc., there being no transfer or delivery of the stock or commodities nominally dealt in."[1] People often mistakenly interchange the words bucket shop and boiler room, but there is actually a significant difference. A boiler room has been defined as a place where high-pressure salespeople use banks of telephones to call lists of potential investors (known as "sucker lists") in order to peddle speculative, even fraudulent, securities. However, with a bucket shop, it could be better thought of as a place where people go to make “side bets” – similar to a bookie. Plus500 is a bucket shop and cannot accept U.S. customers (because bucket shops are against Federal regulations): How to recognize a Bucket Shop broker: http://ezinearticles.com/?How-To-Recognize-A-Bucket-Shop-Broker---Six-Signs-of-A-Fraud-Brokerage&id=6699723Plus500 Review (indicates that they do not accept U.S. customers): http://fxbuild.com/plus500-review/ So? You place bets on wether the price will go up or down. What's the problem? Are you against gambling? This seems like the way speculation should be done in a free market. It's actually a more effective way of speculating since you remove the overhead of dealing with physical products. CFD trading still has an indirect effect on the bitcoin price the same way actual trading of bitcoins would. If there is a lot of buying pressure on the CFD it will drive the price up making it diverge from the real bitcoin price. This would create an arbitrage opportunity, meaning you could short the CFD and buy bitcoins and gain regardless of where the price goes, giving you a riskless* return. Doing this would drive both prices towards eachother again. So again, what is the problem with this? The only effect of people trading these instruments will be increased volume on regular exchanges from people arbitraging. More people having a say on the price is good since it reduces the power any single individual have. *There is still the third party risk of a company with your money going bust etc. once you become a day trader... the line between gambling and financial investments becomes very blurry!
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StarfishPrime
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
May 06, 2013, 02:39:42 PM |
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What kind of bullshit is this? Are they set up to send and receive Bitcoin deposits? Or is this purely "paper Bitcoin?" (i.e. notional). Is everything cash settled or can you withdraw Bitcoins after a purchase?
It's just a virtual trade of a virtual currency, or a virtual virtual instrument. So: If you place a bet on Betsofbitcoin on whether or not they'll keep this BTC/USD CFD, you'd be making a virtual wager with a virtual currency on a virtual financial instrument based on a virtual currency. In other words, similar to the business model of JP Morgan and most of the other market makers, just on a smaller scale. ![Grin](https://bitcointalk.org/Smileys/default/grin.gif)
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capoeira
Legendary
Offline
Activity: 2413
Merit: 1003
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August 01, 2013, 05:12:29 PM |
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funny that the text mentions Plus500 as a "real broker" at the end. does anybody know why this broker blocks IPs from Brazil?
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