Bitcoin Forum
December 16, 2017, 05:09:56 PM *
News: Latest stable version of Bitcoin Core: 0.15.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: speculating on bitcoin-Second market chill effect?  (Read 859 times)
Biodom
Legendary
*
Offline Offline

Activity: 1442


View Profile
February 28, 2014, 04:26:42 PM
 #1

Second Market wants to institute a bitcoin fix.
http://www.bizjournals.com/newyork/news/2014/02/25/secondmarkets-prescription-for-bitcoin-a-hair-of.html?page=all

Quote: "Also, the exchange would set prices once or twice daily, along the lines of the gold market. Executives believe more stable pricing would allow more regular businesses to accept the currency and foster confidence from users."

However, we shall agree to it only if we want bitcoin market to be destroyed.
See what happened when bankers were doing gold fix (for a decade!):

http://www.bloomberg.com/news/2014-02-28/gold-fix-study-shows-signs-of-decade-of-bank-manipulation.html

Barry should stay away from bitcoin and play with $$, euros and yen or gold if he likes to FIX things..
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1513444196
Hero Member
*
Offline Offline

Posts: 1513444196

View Profile Personal Message (Offline)

Ignore
1513444196
Reply with quote  #2

1513444196
Report to moderator
uhoh
Hero Member
*****
Offline Offline

Activity: 728


Circle gets the Square


View Profile
February 28, 2014, 04:30:40 PM
 #2

Must admit I think this is a pretty good idea. It will only be required whilst the market cap is as low as it is IMO. Volatility will be irrelevant at a certain cap. Secondmarket is currently Bitcoin's biggest and most serious ally (Maybe Circle too, but no-one even knows what they are).
Biodom
Legendary
*
Offline Offline

Activity: 1442


View Profile
February 28, 2014, 04:33:24 PM
 #3

Must admit I think this is a pretty good idea. It will only be required whilst the market cap is as low as it is IMO. Volatility will be irrelevant at a certain cap. Secondmarket is currently Bitcoin's biggest and most serious ally (Maybe Circle too, but no-one even knows what they are).

The idea of a FIX is as contadictory to bitcoin core values as it could possibly be, in my opinion.
uhoh
Hero Member
*****
Offline Offline

Activity: 728


Circle gets the Square


View Profile
February 28, 2014, 04:51:26 PM
 #4

Must admit I think this is a pretty good idea. It will only be required whilst the market cap is as low as it is IMO. Volatility will be irrelevant at a certain cap. Secondmarket is currently Bitcoin's biggest and most serious ally (Maybe Circle too, but no-one even knows what they are).

The idea of a FIX is as contadictory to bitcoin core values as it could possibly be, in my opinion.

I wholly agree, but the secondmarket exchange is only going to be one of many exchanges and they want to set a spot price and run daily auctions, so it's a different model. The Bitstamps' and Krakens' of this world will still exist as they do. Bitcoin is an experiment, I'm intrigued to see what secondmarket come up with. I know that when I next cash out a large amount, it will be via their private buying pools.
BitOnyx
Member
**
Offline Offline

Activity: 112

Cryptocurrencies Exchange


View Profile WWW
February 28, 2014, 05:03:44 PM
 #5

It wouldn't be just another exchange. It would be whit listed, not everyone would be able to join from providers side. It all is rather blurry "The company is planning a hub-and-spoke style exchange, where only member firms can directly transact business, a la the New York Stock Exchange. ". Of course it is they choice and it might attract different kind of crowd.

gog1
Hero Member
*****
Offline Offline

Activity: 756


View Profile
February 28, 2014, 05:12:21 PM
 #6

just a bunch of elitist trying to thwart the bitcoin revolution which threatened their existing privilege.  their proposal sounds like mpex.  I think treating bitcoin like forex market is far better.
uhoh
Hero Member
*****
Offline Offline

Activity: 728


Circle gets the Square


View Profile
February 28, 2014, 05:15:05 PM
 #7

Wall street money playing with a currency that cannot be manipulated.... That's progress, and profitable for all of us.
smoothie
Legendary
*
Offline Offline

Activity: 2072


LEALANA Monero Physical Silver Coins


View Profile
February 28, 2014, 05:16:15 PM
 #8

Price fixing is a form of manipulation. Not a free market phenomena. I'm against this.

███████████████████████████████████████

            ,╓p@@███████@╗╖,           
        ,p████████████████████N,       
      d█████████████████████████b     
    d██████████████████████████████æ   
  ,████²█████████████████████████████, 
 ,█████  ╙████████████████████╨  █████y
 ██████    `████████████████`    ██████
║██████       Ñ███████████`      ███████
███████         ╩██████Ñ         ███████
███████    ▐▄     ²██╩     a▌    ███████
╢██████    ▐▓█▄          ▄█▓▌    ███████
 ██████    ▐▓▓▓▓▌,     ▄█▓▓▓▌    ██████─
           ▐▓▓▓▓▓▓█,,▄▓▓▓▓▓▓▌          
           ▐▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▌          
    ▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓─  
     ²▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓╩    
        ▀▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▀       
           ²▀▀▓▓▓▓▓▓▓▓▓▓▓▓▀▀`          
                   ²²²                 
███████████████████████████████████████

. ★☆ WWW.LEALANA.COM        My PGP fingerprint is A764D833.        SMOOTHIE'S HEALTH AND FITNESS JOURNAL          History of Monero development Visualization ★☆ .
LEALANA  PHYSICAL MONERO COINS 999 FINE SILVER.
 
uhoh
Hero Member
*****
Offline Offline

Activity: 728


Circle gets the Square


View Profile
February 28, 2014, 05:18:45 PM
 #9

Price fixing is a form of manipulation. Not a free market phenomena. I'm against this.

Price fixing gold is one thing. Price fixing a completely transparent digital currency that is already traded publicly on many exchanges is, IMO, not something to be worried about. If it increases merchant confidence, it's a winner in my book.

Feel free to quote me in a year, but I think Silbert is exactly what we need to propel Bitcoin into the mainstream along with increasingly professional exchanges like Stamp and Kraken. Mainstream is SO much closer now Gox is dead.
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!