|
mtnminer
|
 |
January 01, 2014, 02:00:44 AM |
|
My small town bank is involved in bitcoin, they are glad to receive my fiat deposits that are transferred from Coinbase into my business account. They think it is amazing what I am doing and are all in favor, especially as I am reinvesting in my small coal mining town that is struggling under the coal mining issues created by the current administration.
Mtnminer
|
|
|
|
|
|
|
|
|
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
|
|
|
|
|
Korxax
Member
 Offline
Activity: 70
Merit: 10
|
|
January 02, 2014, 08:32:26 PM |
|
I don't think banks are allowed to trade bitcoins, at least not the big American and European banks. There are all kinds of regulations on what they can and can't own or trade. Most banks are not even interested in bitcoins at this point. They are too new, volatile and risky in their eyes.
Korxax
1NtV1q29FtRAYAkMJHMYbASZLiLur2FQe
|
|
|
|
|
nobanks4me
Member
Offline
Activity: 110
Merit: 10
|
|
January 03, 2014, 01:42:09 PM |
|
Ya the mechanism is already in place...its called switch to Litecoin.
That's the beauty of crytocurrencies...when some idiot tries to corner the market on one...people just switch to another.
Thanks, that is very clever. But that works only when BTC/USD rates and LTC/USD rates are not tied to each other. Why is it that BTC/USD and LTC/USD fluctuation rates as shown in http://www.cryptocoincharts.info/v2/main/smallCharts seem to follow each other very closely? Are you saying that if BTC/USD rates crash due to HFT, then LTC/BTC rates will skyrocket? |
⚫ ⚫ ⚫ Listen to the weekly altcoinsidekick.com podcast to understand what cryptocurrency is really all about. ⚫ ⚫ ⚫ |
|
|
|
pjviitas
|
|
January 03, 2014, 06:48:29 PM |
|
Ya the mechanism is already in place...its called switch to Litecoin.
That's the beauty of crytocurrencies...when some idiot tries to corner the market on one...people just switch to another.
Thanks, that is very clever. But that works only when BTC/USD rates and LTC/USD rates are not tied to each other. Why is it that BTC/USD and LTC/USD fluctuation rates as shown in http://www.cryptocoincharts.info/v2/main/smallCharts seem to follow each other very closely? Are you saying that if BTC/USD rates crash due to HFT, then LTC/BTC rates will skyrocket? My statement does not mention anything about ratios. I am basically trying to say that no one is forced to use BTC...it is not legal tender. With this being said, if a government or bank or person attempted to gather enough BTC to control its value in a way that I don't like, I can simply cash out and use a different form of currency. Moving to another crypto-currency would be ideal however I can just go back to fiat or precious metals (or tulips :-) if things get too stupid. |
|
|
|
|
nobanks4me
Member
Offline
Activity: 110
Merit: 10
|
|
January 04, 2014, 07:19:45 AM |
|
...... if a government or bank or person attempted to gather enough BTC to control its value in a way that I don't like, I can simply cash out and use a different form of currency.
How can you tell if HFT manipulation has been going on except after the crash? Can miners mining the blockchain tell if someone was gathering enough BTCs to control its value? If yes, can they reject such transactions? |
⚫ ⚫ ⚫ Listen to the weekly altcoinsidekick.com podcast to understand what cryptocurrency is really all about. ⚫ ⚫ ⚫ |
|
|
johnyj
Legendary
Offline
Activity: 1988
Merit: 1012
Beyond Imagination
|
|
January 04, 2014, 02:12:34 PM |
|
Bitcoin is a very stable and high quality investment target, the volatility is irrelevant, since banks will always use risk adjusted return to evaluate the performance. The return/risk ratio of bitcoin is much much higher than any other investment on the planet, including government bonds/Apple's stock/Gold etc...
|
|
|
|
|
skivrmt
|
|
January 04, 2014, 02:27:36 PM |
|
Bitcoin is a very stable and high quality investment target, the volatility is irrelevant, since banks will always use risk adjusted return to evaluate the performance. The return/risk ratio of bitcoin is much much higher than any other investment on the planet, including government bonds/Apple's stock/Gold etc...
Bitcoin unfortunately is not very stable. Not sure what your definition of stable is! Per a bank, a T-Bill is stable. A GIC is stable. Even most stocks aren't -that- stable. This is an investment that may or may not be legal, that moves up or down 5-10% in a 24 hr period, and that is not traded on any major exchange (NASDAQ, Forex, NYSE, etc). I agree that the risk to return ratio is excellent on Bitcoin. But it is not something that banks will be buying anytime soon. |
|
|
|
|
Lewis2
Member
Offline
Activity: 70
Merit: 10
|
|
January 04, 2014, 03:51:04 PM |
|
Bitcoin is a very stable and high quality investment target, the volatility is irrelevant, since banks will always use risk adjusted return to evaluate the performance. The return/risk ratio of bitcoin is much much higher than any other investment on the planet, including government bonds/Apple's stock/Gold etc...
And what formula did you use to calculate this? Sounds like bullcrap to me. |
|
|
|
guybrushthreepwood
Legendary
Offline
Activity: 1232
Merit: 1195
|
|
January 04, 2014, 04:23:37 PM |
|
Bitcoin is a very stable and high quality investment target, the volatility is irrelevant, since banks will always use risk adjusted return to evaluate the performance. The return/risk ratio of bitcoin is much much higher than any other investment on the planet, including government bonds/Apple's stock/Gold etc...
And what formula did you use to calculate this? Sounds like bullcrap to me. Lol, how can something be both stable and volatile? |
|
|
|
|
Erdogan
Legendary
Offline
Activity: 1512
Merit: 1005
|
|
January 05, 2014, 03:01:05 AM |
|
Bitcoin is a very stable and high quality investment target, the volatility is irrelevant, since banks will always use risk adjusted return to evaluate the performance. The return/risk ratio of bitcoin is much much higher than any other investment on the planet, including government bonds/Apple's stock/Gold etc...
And what formula did you use to calculate this? Sounds like bullcrap to me. Lol, how can something be both stable and volatile? It is volatile because it rises in value, but it is quite stable around a superexponential function. |
|
|
|
|
|
skivrmt
|
|
January 05, 2014, 02:16:53 PM |
|
Bitcoin is a very stable and high quality investment target, the volatility is irrelevant, since banks will always use risk adjusted return to evaluate the performance. The return/risk ratio of bitcoin is much much higher than any other investment on the planet, including government bonds/Apple's stock/Gold etc...
And what formula did you use to calculate this? Sounds like bullcrap to me. Lol, how can something be both stable and volatile? It is volatile because it rises in value, but it is quite stable around a superexponential function. Volatile means a security/commodity changes in value more than a specified value. Ok, so Bitcoin is volatile, I think we can all agree. Superexpontential function? Explain how Bitcoin is stable around this? Because it's rises at a fast rate, so far?! |
|
|
|
|
Erdogan
Legendary
Offline
Activity: 1512
Merit: 1005
|
|
January 05, 2014, 02:38:27 PM |
|
Bitcoin is a very stable and high quality investment target, the volatility is irrelevant, since banks will always use risk adjusted return to evaluate the performance. The return/risk ratio of bitcoin is much much higher than any other investment on the planet, including government bonds/Apple's stock/Gold etc...
And what formula did you use to calculate this? Sounds like bullcrap to me. Lol, how can something be both stable and volatile? It is volatile because it rises in value, but it is quite stable around a superexponential function. Volatile means a security/commodity changes in value more than a specified value. Ok, so Bitcoin is volatile, I think we can all agree. Superexpontential function? Explain how Bitcoin is stable around this? Because it's rises at a fast rate, so far?! It is a common thought among permabulls. You can see it presented as graphs with super exponential axis' and lines. I don't necessarily agree, but at least exponential. But we do not know the exact parameters. Start from 1, adding 1% per year, is also an exponential function. The point is if that if the bitcoin value is rising, it is per def also volatile. It does not have to both rise and fall again and again to be volatile. |
|
|
|
|
|
