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AyeYo (OP)
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July 15, 2011, 05:43:33 PM |
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I get that and I even agree. What I don't understand is how people trust these exchanges. I'd trade BTC too for the exact same reasons, but it's the safety of the exchanges and why people trust them that doesn't make sense to me.
I'm not seeing much potential to scale in the Bitcoin market. It's fine as a sandbox, but can you really ramp up the size of your trades? Not only is the liquidity not there, but what if you did make some real money? Do you really want to have hundreds of thousands of dollars sitting on their servers? And even as a sandbox, is it really a good sandbox if it doesn't move like the real markets do? My points exactly. Judging by the responses here, a lot of people think it's a good first step to learn trading more popular markets, but it's really not because it doesn't at all behave like normal markets. |
Enjoying the dose of reality or getting a laugh out of my posts? Feel free to toss me a penny or two, everyone else seems to be doing it! 1Kn8NqvbCC83zpvBsKMtu4sjso5PjrQEu1
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"Bitcoin: mining our own business since 2009" -- Pieter Wuille
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Fireball
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July 16, 2011, 04:13:03 PM |
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Cool. What's your point?
Trollism detected? You started this topic, you made some incorrect statements which I politely explained, you brought market making into account. I just want every post in this forum to be a source of useful information, not just useless arguing or discussion. |
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GamblingPurveyor
Member
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Activity: 280
Merit: 10
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July 19, 2011, 08:42:15 AM |
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I get that and I even agree. What I don't understand is how people trust these exchanges. I'd trade BTC too for the exact same reasons, but it's the safety of the exchanges and why people trust them that doesn't make sense to me.
You could ask the same questions of mainstream stock brokers, and the answer would be no better. The fact is that "real exchanges" as you call them are not in "full compliance" with the law as you have tried to claim. The entire U.S. financial industry is known to have committed some pretty serious crimes. Every single stock brokerage, and every single FOREX broker in the United States is either a criminal organization, or secretly insolvent, and the only thing keeping them out of jail is the fact that they count many powerful politicians in their ranks. |
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NetTecture
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July 19, 2011, 10:15:22 AM |
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I don't touch forex with a 10 foot pole - unregulated and the trade software even has "fuck the customer" modules.  If I want to trade, I use the CME GROUP and trade on CME, CBOT, NYMEX etc. Regulated, decent prices. |
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AyeYo (OP)
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July 25, 2011, 07:40:16 PM |
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I get that and I even agree. What I don't understand is how people trust these exchanges. I'd trade BTC too for the exact same reasons, but it's the safety of the exchanges and why people trust them that doesn't make sense to me.
You could ask the same questions of mainstream stock brokers, and the answer would be no better. The fact is that "real exchanges" as you call them are not in "full compliance" with the law as you have tried to claim. The entire U.S. financial industry is known to have committed some pretty serious crimes. Every single stock brokerage, and every single FOREX broker in the United States is either a criminal organization, or secretly insolvent, and the only thing keeping them out of jail is the fact that they count many powerful politicians in their ranks. And you can provide proof of this, right? Every single one, huh? I can't wait to see the many citations you'll provide to back up that claim. |
Enjoying the dose of reality or getting a laugh out of my posts? Feel free to toss me a penny or two, everyone else seems to be doing it! 1Kn8NqvbCC83zpvBsKMtu4sjso5PjrQEu1
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qikaifu
Full Member
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God creats math and math creats bitcoin.
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July 27, 2011, 03:56:50 PM |
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Please let me know if there is some forex that has a limited supply with a set up number and global acceptance.
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flix
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July 28, 2011, 05:12:11 PM |
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So, to all the bitcoin traders out there... what are your reasons for trading these shady, unsafe bitcoin markets over regular FX?
I want to trade FX with bitcoin. The most annoying thing about most brokerage accts is the slow fund/withdraw process, together with the mass of financial regulations, AML, KYC, etc. I want to be able to send BTC and withdraw them with a click. Like cash. |
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timmey
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July 28, 2011, 09:20:55 PM |
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It makes me wonder, why don't you guys just trade real forex? You can open micro accounts with as little as $25.
[...]
what are your reasons for trading these shady, unsafe bitcoin markets over regular FX?
Gambling. I personally don't trade bitcoins for a living(yet), i do it in my spare time. I actually started trading out of pure boredom while browsing the interweb and reading some article about bitcoins. Like when you go to a Casino... "I have a hundred bucks that i don't care about, let's gamble". It's a nice experience to feel a little like a broker at Wallstreet. Sure i could do the same with a micro account and real forex but that would make it somehow "official" and not just for fun anymore. |
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cxz
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May 20, 2014, 04:13:23 PM |
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Who said MtGox doesn't trade against people? There's no regulation, remember? No laws against conflict of interest, nothing like that. Your data provider, broker, exchange, and opposing trader are ALL the same person (like literally one or two guys, not just a business entity) in Bitcoin land. But yet people think regular FX is too rigged and risky?  Unlike rigged forex which trolls like you like to promote, mtgox doesn't have any long term interest in doing so. Lol turns out mtgox didn't have any long term interest in anything else either |
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capoeira
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Activity: 2388
Merit: 1003
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July 02, 2014, 11:10:07 AM |
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Who said MtGox doesn't trade against people? There's no regulation, remember? No laws against conflict of interest, nothing like that. Your data provider, broker, exchange, and opposing trader are ALL the same person (like literally one or two guys, not just a business entity) in Bitcoin land. But yet people think regular FX is too rigged and risky? Unlike rigged forex which trolls like you like to promote, mtgox doesn't have any long term interest in doing so. Lol turns out mtgox didn't have any long term interest in anything else either hahaha I realy hope we get crypto based forex trading soon. Guess FxOpen will have it one day |
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davellolzz
Jr. Member
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July 02, 2014, 11:31:42 AM |
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I see there are a lot of first time traders trading Bitcoin via the hack exchanges of MtGox and Tradehill. It makes me wonder, why don't you guys just trade real forex? You can open micro accounts with as little as $25. You get security far better than these shady exchanges. You get real customer service with a real business that won't disappear and leave you only an email address to cry to. You get real trading platforms with reliable data, not some ghetto hack stuff. You get plenty of liquidity, which allows of smooth trading. And, best of all, you don't have to worry whether it's legal or not! Trading is hard enough as it is, why anyone would want all these additional factors working against them is beyond me.
So, to all the bitcoin traders out there... what are your reasons for trading these shady, unsafe bitcoin markets over regular FX?
Yah Im also wondering about this. Do BTC FOREX TRADERS earn fast than a normal real forex trading? |
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capoeira
Legendary
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Activity: 2388
Merit: 1003
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July 02, 2014, 11:55:11 AM |
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I see there are a lot of first time traders trading Bitcoin via the hack exchanges of MtGox and Tradehill. It makes me wonder, why don't you guys just trade real forex? You can open micro accounts with as little as $25. You get security far better than these shady exchanges. You get real customer service with a real business that won't disappear and leave you only an email address to cry to. You get real trading platforms with reliable data, not some ghetto hack stuff. You get plenty of liquidity, which allows of smooth trading. And, best of all, you don't have to worry whether it's legal or not! Trading is hard enough as it is, why anyone would want all these additional factors working against them is beyond me.
So, to all the bitcoin traders out there... what are your reasons for trading these shady, unsafe bitcoin markets over regular FX?
Yah Im also wondering about this. Do BTC FOREX TRADERS earn fast than a normal real forex trading? if you can handel Forex than it makes no sense to trade BTC...while BTC offers oportunity to trade like once a day, on Forex you have one once a minute |
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DavidHume
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July 02, 2014, 02:24:33 PM |
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Forex is a lot harder to trade than bitcoin.
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capoeira
Legendary
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July 02, 2014, 02:36:41 PM |
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Forex is a lot harder to trade than bitcoin.
it sure is |
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leancuisine
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July 04, 2014, 11:03:03 PM |
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Who said MtGox doesn't trade against people? There's no regulation, remember? No laws against conflict of interest, nothing like that. Your data provider, broker, exchange, and opposing trader are ALL the same person (like literally one or two guys, not just a business entity) in Bitcoin land. But yet people think regular FX is too rigged and risky? Unlike rigged forex which trolls like you like to promote, mtgox doesn't have any long term interest in doing so. Lol turns out mtgox didn't have any long term interest in anything else either hahaha I realy hope we get crypto based forex trading soon. Guess FxOpen will have it one day Sorry for the two day bump. I believe FXOpen already has crypto-based forex trading, using their crypto accounts you can have Bitcoin or Litecoin denominated accounts. |
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capoeira
Legendary
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Activity: 2388
Merit: 1003
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July 05, 2014, 01:17:13 PM |
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Who said MtGox doesn't trade against people? There's no regulation, remember? No laws against conflict of interest, nothing like that. Your data provider, broker, exchange, and opposing trader are ALL the same person (like literally one or two guys, not just a business entity) in Bitcoin land. But yet people think regular FX is too rigged and risky? Unlike rigged forex which trolls like you like to promote, mtgox doesn't have any long term interest in doing so. Lol turns out mtgox didn't have any long term interest in anything else either hahaha I realy hope we get crypto based forex trading soon. Guess FxOpen will have it one day Sorry for the two day bump. I believe FXOpen already has crypto-based forex trading, using their crypto accounts you can have Bitcoin or Litecoin denominated accounts. you can't trade Forex pairs in them.....but I hope yhis will come soon |
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Fireball
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July 07, 2014, 10:51:52 AM |
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you can't trade Forex pairs in them.....but I hope this will come soon
Speaking of which, we are measuring interest in such service. In your (this topic readers/writers) opinion, are you interested in trading USD/BTC pair with BTC being your account currency. E.g. you buy the base currency of the pair (USD), and sell quote currency of the pair, which is BTC. Quotes would be like 1.5898, which means that for every 1.5898 BTC that you sell, you purchase US $1000. or are you interested in trading BTC/USD pair, with USD being your account currency. Quotes would be like 628, which means that for every $628 that you sell, you purchase 1 BTC. It would be interesting to get this kind of feedback, as each way has its own pros and cons. |
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bitminister123
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July 07, 2014, 09:13:39 PM |
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Forex is fiat bitcoin is the future |
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capoeira
Legendary
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July 07, 2014, 10:55:03 PM |
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Forex is fiat bitcoin is the future if Bitcoin is the future it will be in Forex  |
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capoeira
Legendary
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July 08, 2014, 02:25:27 AM |
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I don't trade forex because the 10:1 or higher margin is too risky.
At least with bitcoin if it goes to $100 usd, that same bitcoin if I hold it, can go back to my original value, say $650 per btc.
In forex, that same drop will wipe out my account because of the leverage. Multiplicative losses beats any gains. It's essentially gambling.
position sizing is the answer |
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