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I HATE TABLES I HATE TABLES I HA(╯°□°）╯︵ ┻━┻ TABLES I HATE TABLES I HATE TABLES
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Elwar
Legendary
 Offline
Activity: 3598
Merit: 2386
Viva Ut Vivas
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October 06, 2014, 11:12:01 AM |
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I saw this. It says you can buy bitcoins from any bank. Can I get euro for bitcoins? And is this from any bank or any bank using Sofort?
I cannot access 247Exchange.com at work so I will definitely check it out when I get home.
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First seastead company actually selling sea homes: Ocean Builders https://ocean.builders Of course we accept bitcoin. |
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leezay
Full Member
Offline
Activity: 363
Merit: 100
SWISSREALCOIN - FIRST REAL ESTATE CRYPTO TOKEN
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October 06, 2014, 11:13:11 AM |
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There are only a limited supply of coin in circulation.
How exactly are they going short sell bitcoin?
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Elwar
Legendary
Offline
Activity: 3598
Merit: 2386
Viva Ut Vivas
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October 06, 2014, 11:19:42 AM |
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There are only a limited supply of coin in circulation.
How exactly are they going short sell bitcoin?
Short selling has been available for years. It is available on many sites, BitFinex is the most popular at the moment. You borrow people's bitcoins and you short them. |
First seastead company actually selling sea homes: Ocean Builders https://ocean.builders Of course we accept bitcoin. |
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CryptoCurrencyInc.com (OP)
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October 06, 2014, 11:21:10 AM |
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There are only a limited supply of coin in circulation.
How exactly are they going short sell bitcoin?
Short selling has been available for years. It is available on many sites, BitFinex is the most popular at the moment. You borrow people's bitcoins and you short them. You know too well that people do not leave their bitcoins on website, MTgox taught them that lesson. So, where are they getting the coins to let people borrow? Think about it and you will know. |
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Elwar
Legendary
Offline
Activity: 3598
Merit: 2386
Viva Ut Vivas
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October 06, 2014, 11:24:02 AM |
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There are only a limited supply of coin in circulation.
How exactly are they going short sell bitcoin?
Short selling has been available for years. It is available on many sites, BitFinex is the most popular at the moment. You borrow people's bitcoins and you short them. You know too well that people do not leave their bitcoins on website, MTgox taught them that lesson. So, where are they getting the coins to let people borrow? Think about it and you will know. I have loaned people bitcoins myself to be shorted. It is one of the few ways to get interest on your bitcoins. And there are a whole lot of people with bitcoins on websites. I have 11 still on BitFinex just because. |
First seastead company actually selling sea homes: Ocean Builders https://ocean.builders Of course we accept bitcoin. |
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franky1
Legendary
Offline
Activity: 4214
Merit: 4481
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October 06, 2014, 11:41:21 AM |
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short selling bitcoin is as simple as messing with a mysql database the meant to represent a balance of real bitcoins.
i prefer localbitcoins and otc's, where the true blockchain coins live.
offchain trading on mysql databases have been happening for years
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I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
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chenka563
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October 06, 2014, 02:13:58 PM |
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really? That say that i can buy the BTC and sell btc accord the bank which i have the account of it?
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cyberpinoy
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October 06, 2014, 02:40:24 PM |
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400 European Banks Accept Bitcoin Purchase Agreement
https://www.cryptocoinsnews.com/400-european-banks-accept-bitcoin-purchase-agreement/https://www.cryptocoinsnews.com/bitcoin-sell-wall-death-chomped/Opinion: When banks step in, they will use their artificial currency to short sell Bitcoins. You will soon see the price of Bitcoin fall below $100 mark. You will start to read articles and hear about mysterious things about why Bitcoin price falling and falling. The problem with borrowing the coins to short sell is that they don't have the coins to let people borrow. They will just create the illusion that there are coins to borrow to short sell. You should always keep in your mind that Bitcoin mining difficulty is at: 34,661,425,923 It's really hard to acquire coins. To say Short Sell is very redundant, shorting a currency is defined as selling the currency, when I go shiort I am selling when I go long I am buying. So now yu know more about currency trading lets get onto another falacy in your report. It is quite easy to obtain bitcoins for free at that. they are called faucets, bots for the faucets browser addons and proxy servers will have you owning 3 to 5 bitcoins by then end of the week. It is not as complivcated as you may think to "aquire Bitcoins" now what your report is correct about, the banks will indeed turn bitcoins into the next Gold revolution by enlisting them in paper contracts, they are doing that with gold now and havfe been doing ti with gold and silver for years upon years decades upon decades, so yes they will find a way to short paper contracts on bitcoins that they most certainly will not have possession of. However this is not as much the banks fault as it is the investors who buy these contracts knowing full and well it is an IOU that is backed by nothing, the investors and investment firms who purchase these paper contracts already know the bank doesnt have what they are promising, as the buyer you hope th bank will indeed come thru on their promise which then takes the percentage of the blame the buyers had away from them because at the end of the day its the bank who makes the rules and they know as sure as god made little green apples they will not be buying the gold nor giving it back to the investors as they will manipulate the price of that market to fall so drastically just minutes before the contract expires so not to have to pay the investor anything if not a loss on his investment. Dont believe me look up barclays bank lawsuits on Google you will see 2 one very very recent and one just a few years back, how ironic both of the lawsuits were for doing the same thing, manipulating the price of gold so they didnt have to pay a profit to their contract investors. Just let the banks make their own coins and stay the hell out of our bitcoin projects, we dont need their stupidity tarnishing the name bitcoin has built for itself. The sad thing is this is perfect for the banks because they can set up their own contracts and they wont have to worry about the price becasue the contracts they sell wont effect the market like gold contracts effect the commodities market, thats a HUGE difference , now what we need to ask ourselves is "are they already doing it" what people say are "BUBBLES" may not be bubbles but the contracts the banks have sold expiring, because even gold contracts expire at the same time every year  we see the price falling and fgalling and falling and everyone says Oh it does this every year, but have you asked yourself WHY? and gotten a full proof true answer and not just speculations? As a forex trader in all honesty It looks EXACTLY like what happens to the gold and silver markets when contracts expire DOWN DOWN DOWN the price goes. |
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young3dvard
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October 06, 2014, 02:52:43 PM |
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As long as people withdraw real Bitcoins, they cannot just sell you unlimited Bitcoin IOU
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BurtW
Legendary
Offline
Activity: 2646
Merit: 1136
All paid signature campaigns should be banned.
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October 06, 2014, 03:04:37 PM |
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There is nothing you can do to stop the creation of BTC derivatives, contracts, etc. So stop worrying about it. If two people/entities want to create a contract between them that says if BTC goes up you owe me X dollars, if BTC goes down I owe you Y dollars more power to them. Why do you care?
There is also nothing you can do to stop me from lending out my BTC to someone so they can short the market. Mind your own business. If I want to lend my BTC out for the interest that is my prerogative. Stop worrying so much about what other people do with their property.
If you want to keep physical possession of your BTC then do it (highly suggested). If you want to lend them to a bank or exchange in order to make interest then go for it - but you might lose them all so be careful.
All this wringing of the hands about something that is absolutely certain to occur (contract and derivatives) which is also something that you cannot stop and really cannot be stopped is just plain silly.
In fact if you are certain that this news is going to drive the market down then you should short it.
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Our family was terrorized by Homeland Security. Read all about it here: http://www.jmwagner.com/ and http://www.burtw.com/ Any donations to help us recover from the $300,000 in legal fees and forced donations to the Federal Asset Forfeiture slush fund are greatly appreciated! |
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Sheldor333
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October 06, 2014, 03:51:50 PM |
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Simply because bitcoin was created for everyone this will be one of its uses. Am I happy about it? Surely no, but making something like that impossible would require too many restrictions and bitcoin would not be what it is today.
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spazzdla
Legendary
Offline
Activity: 1722
Merit: 1000
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October 06, 2014, 07:01:09 PM |
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As long as people withdraw real Bitcoins, they cannot just sell you unlimited Bitcoin IOU
This is when the exchage/bank goes bankrupt and either gets a bail out from the gov (AKA stealing YOUR MONEY to ensure their bad raping pracites can continue...) or they fail. Back in the 1200's the banks tried and did this with gold.. it ended with hangings as it should in 2008.. instead our gov stole your and my money to bail them out from cheating you.. Nothing was ever fixed.. Here I stand with Crypto, PM's and food, water and zero debts. |
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ANTIcentralized
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October 07, 2014, 05:24:24 AM |
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There are only a limited supply of coin in circulation.
How exactly are they going short sell bitcoin?
Short selling has been available for years. It is available on many sites, BitFinex is the most popular at the moment. You borrow people's bitcoins and you short them. You know too well that people do not leave their bitcoins on website, MTgox taught them that lesson. So, where are they getting the coins to let people borrow? Think about it and you will know. I have loaned people bitcoins myself to be shorted. It is one of the few ways to get interest on your bitcoins. And there are a whole lot of people with bitcoins on websites. I have 11 still on BitFinex just because. This is probably also one of the more safe way to "invest" your bitcoin, provided that the exchange can be trusted with your bitcoin. Another feature of facilitating short selling is that it will help the price of bitcoin be more stable as bubbles will be less severe and crashes will be smaller as people will short bitcoin during a bubble and cover the short position during a crash |
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CtrlAltBernanke420
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October 07, 2014, 05:30:44 AM |
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As long as people withdraw real Bitcoins, they cannot just sell you unlimited Bitcoin IOU
Especially in prices so low, like below 100.. They could in theory create a market at any price they want as long as they play market maker, but the limited supply over time of bitcoin takes care of this. If the banks do not send the coin when people demand them, the bank goes bust. Perhaps in this sense, bitcoin could be the cog that breaks the whole machine... that would be cool... |
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bl4kjaguar
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October 07, 2014, 07:54:32 AM |
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the banks will indeed turn bitcoins into the next Gold revolution by enlisting them in paper contracts, they will find a way to short paper contracts on bitcoins that they most certainly will not have possession of. You can only short a paper contract as long as speculators are willing to buy the contracts that you are selling. Such paper contracts have been traded at ICBIT.SE for years; shorting is only profitable when there is speculative demand. |
1CuUwTT21yZmZvNmmYYhsiVocczmAomSVa
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evok3d
Sr. Member
Offline
Activity: 534
Merit: 250
The Protocol for the Audience Economy
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October 07, 2014, 10:41:30 AM |
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+1 Great explanation for short selling. I really hope this does not happen to bitcoins. shorting is only profitable when there is speculative demand. Can you see bitcoin having a speculative demand anytime in the future? I think a great deal of people are forgetting that the currency aspect is only a very small aspect of bitcoin. The much greater portion lies in its services/side chain technologies. This is not something that can be manipulated. hopefully... |
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trader001
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October 07, 2014, 02:11:55 PM |
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short selling bitcoin is as simple as messing with a mysql database the meant to represent a balance of real bitcoins.
i prefer localbitcoins and otc's, where the true blockchain coins live.
offchain trading on mysql databases have been happening for years
Offchain trading can not influence bitcoin price for long without threatening the solvency of the exchange. |
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