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Author Topic: 2013-12-11 Entrepreneur:Wall Street Will Put 'Hundreds of Millions' Into Bitcoin  (Read 4768 times)
BitChick
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December 11, 2013, 09:22:48 PM
 #1

http://www.entrepreneur.com/article/230346

Why do I love articles like these so much?

Bullish news, yes?   Grin

Quote
"We're three to six months away from Wall Street dollars moving into Bitcoin in a big way," he says.

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beetcoin
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December 11, 2013, 09:25:24 PM
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at this point, hundreds of millions isn't even that much, but it could have a huge impact.. at least on speculation.
BitChick
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December 11, 2013, 09:26:39 PM
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at this point, hundreds of millions isn't even that much, but it could have a huge impact.. at least on speculation.

hundreds of millions leads to billions.  Grin

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December 11, 2013, 09:28:14 PM
 #4

actually, at this point, if we had $999 million dollars pumped into BTC, it would probably have a pretty sizeable impact on bitcoins.
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December 11, 2013, 10:53:41 PM
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Although right now Silbert is happy to see Bitcoin performing above his expectations, in the near term "the price volatility is only going to get worse," he says. "We haven't seen anything yet."

He added, "Once Wall Street starts putting money into Bitcoin -- we're talking about hundreds of millions, billions of dollars moving in -- it's going to have a pretty dramatic effect on the price."


buckle up ... the rodeo is coming to town.

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December 11, 2013, 11:05:05 PM
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Although right now Silbert is happy to see Bitcoin performing above his expectations, in the near term "the price volatility is only going to get worse," he says. "We haven't seen anything yet."

He added, "Once Wall Street starts putting money into Bitcoin -- we're talking about hundreds of millions, billions of dollars moving in -- it's going to have a pretty dramatic effect on the price."


buckle up ... the rodeo is coming to town.


I am not entirely convinced volatility will be worse.  The past two crashes did not fall as far as the 2011 crash.  Of course there will be some ups and downs.  I am excited to see what happens next year regardless of the bumps in the road! Grin

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December 11, 2013, 11:26:10 PM
 #7

The article says:
Quote
Speaking on Tuesday night at a private dinner for Bitcoin cognoscenti in New York, Silbert said he was astonished by the BIT's performance. "We launched six weeks ago and we're up to $70 million. That blows my mind. We were hoping to get to $10 million by the end of the year."

I presume it should say $100 million? So $30 million more in 3 weeks?
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December 11, 2013, 11:26:55 PM
 #8

hundreds of millions is still small compared to wall street. so this has to be just the first wave if inverstors.

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@ cr1776

i think so. he meant 100 mio.

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December 12, 2013, 01:20:46 AM
 #9

Like the Winkelvoss brothers told us, 400 Billion market cap. Really looking forward to it Smiley
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December 12, 2013, 07:47:31 AM
 #10

It's all to play for

Seriously, it's a no brainer that wall street is gonna come in soon, expect a deep deriv market to evolve as they do

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December 12, 2013, 07:51:14 AM
 #11

It's all to play for

Seriously, it's a no brainer that wall street is gonna come in soon, expect a deep deriv market to evolve as they do


What do you mean by deep deriv?
Rygon
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December 12, 2013, 12:31:38 PM
 #12

It's all to play for

Seriously, it's a no brainer that wall street is gonna come in soon, expect a deep deriv market to evolve as they do


What do you mean by deep deriv?

That means wall street will spearhead pump-and-dump schemes and scams that will make Pirate and other notorious Bitcoin criminals look like saints in comparison.
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December 12, 2013, 12:51:05 PM
 #13

It's all to play for

Seriously, it's a no brainer that wall street is gonna come in soon, expect a deep deriv market to evolve as they do


What do you mean by deep deriv?

Derivatives markets.  Futures, calls, puts, etc.  Options

Bitcoinica 2.0 corporate style.

How long till the winklevoss twin's ETF is up & running, so I can get my 401k involved?

Coinbase for selling BTCs
Fold for spending BTCs
PM me with any questions on these sites/apps!  http://www.montybitcoin.com


or Vircurex for trading alt cryptocurrencies like DOGEs
CoinNinja for exploring the blockchain.
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December 12, 2013, 12:59:07 PM
 #14

if advancement of bitcoin is desired it is the only way...
one day bitcoin will be seen as a driver for the computer industry...
just my 2 cents
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December 12, 2013, 01:19:46 PM
 #15

...
How long till the winklevoss twin's ETF is up & running, so I can get my 401k involved?

Fidelity has just begun offering IRA investment in Second Market's fund (as of today).

Word on the street is that JP Morgan already has plans to package 'sub-prime' red/black-listed bitcoins into lucractive derivatives.  Smiley

 

                         
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empoweoqwj
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December 12, 2013, 02:21:41 PM
 #16

at this point, hundreds of millions isn't even that much, but it could have a huge impact.. at least on speculation.

Hundreds of millions of dollars of liquidity pumped into the main exchanges would have a huge impact on price. Don't forget the price at exchanges is *only* the price of people buying and selling bitcoins. A tiny proportion of the 12M bitcoins in circulation.
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December 12, 2013, 02:36:35 PM
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at this point, hundreds of millions isn't even that much, but it could have a huge impact.. at least on speculation.

Hundreds of millions of dollars of liquidity pumped into the main exchanges would have a huge impact on price. Don't forget the price at exchanges is *only* the price of people buying and selling bitcoins. A tiny proportion of the 12M bitcoins in circulation.

Exactly.  Prices are set at the margin. 

At about 3600 new bitcoins per day (6*24 * 25) at ~$1000 per bitcoin that is $3.6 million of new supply per day IF all miners sell it all (unlikely in the extreme).  At hundreds of millions that is all of the supply for maybe 3 months, even spread out over a full year, that is a huge percentage of any new supply.  This is  assuming the price doesn't change which is also very unlikely.

If this is ends up being accurate, it will be big news.
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December 12, 2013, 02:39:25 PM
 #18

It's all to play for

Seriously, it's a no brainer that wall street is gonna come in soon, expect a deep deriv market to evolve as they do


What do you mean by deep deriv?

That means wall street will spearhead pump-and-dump schemes and scams that will make Pirate and other notorious Bitcoin criminals look like saints in comparison.

LOL i couldn't agree more.
BitChick
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December 12, 2013, 03:40:02 PM
 #19

It's all to play for

Seriously, it's a no brainer that wall street is gonna come in soon, expect a deep deriv market to evolve as they do


What do you mean by deep deriv?

That means wall street will spearhead pump-and-dump schemes and scams that will make Pirate and other notorious Bitcoin criminals look like saints in comparison.

LOL i couldn't agree more.

We should already be getting used to it by now anyways. Wink 

I suppose the price will definitely be manilpulated, but what will the price be?  Will it be manipulated from $10,000 down to $8,000 or $100,000 to $75,000?  I think those of us that have invested now won't really care too much then.

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December 12, 2013, 03:46:16 PM
 #20

I suppose the price will definitely be manilpulated, but what will the price be?  Will it be manipulated from $10,000 down to $8,000 or $100,000 to $75,000?  I think those of us that have invested now won't really care too much then.

Unless they manipulate it to $100.. or $10... or $1
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