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DrawingDead
DrawingDead
Joined: Jun 13, 2014
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Thanks for this post from:
MaxPen
June 14th, 2017 at 6:06:17 PM permalink
The lack of a liquid market to go "short" is a real problem. This might not be intuitively obvious to those who are strictly fans of the concept cheering any rise, but if it is to 'grow-up' at some point it will be important for it to have that. Short sellers serve an important function in making markets.

Is there any transparency on the origin of BTC purchases? Not individually, but by the type of sovereign national currency used to get into BTC positions, or other information that would be specific to geography of the original transactions/holdings?

I ask because nearly all the discussion of it I see is very US-centric, involving aspects most interesting to some social groups within the West, but I strongly suspect that much of the volume and therefore the most important predictor of future volatility is likely coming from those holding Yuan and Rubles, and then perhaps Rupees and Ringgits and Won, not primarily from Dollars or the Pound Sterling.

I'm very much a skeptic of BTC as a medium of exchange. But having said that, if the BTC/USD price movement was the chart of an equity (stock) or a commodity like copper or soybeans, I would not be thinking of the recent pullback as a crash in the sense of necessarily being a clear indication of a reversal of direction after the parabolic rise. Yet. It could be taken as a typical consolidation before a further rise. Or, not. If I was a speculator in it, I would be looking for the breaking of some longer trendlines, or the resumption of them.

But on yet another hand, that volatility to the upside, just as much as significant drops, makes it very problematic as a currency. For the specific purpose of potential use as an alternative currency, major upswings in relative value are NOT a good thing. They are good for those speculating in the asset value of it on the long side, but that is something different. For a thought experiment to illustrate one aspect of that problem, think about entering into contracts over time denominated in something that may require much more of your national currency over the term of the agreement. Possibly exponentially increasing amounts. I wouldn't want to buy even a Chevy like that, or agree to sell one over time.That's just one aspect of the volatility problem. In order to be more than a "prove how trendy we are at Gizmos-R-Us" thing, it would have to achieve a much greater degree of stability, not big rises (or falls), and do so for long enough that there was widespread confidence it would stay that way... by NOT going up (or down) so very much in Dollar/Euro/Pound terms.

But whether that ever eventually happens or not, my strong suspicion is that for recent movements it isn't being driven mostly by US/Western BTC enthusiasts; more so by Chinese liquidity in the hands of well connected Party members in the great workers' and peasant's paradise of the People's Republic, and the peculiar *ahem* 'informal-unofficial' needs of Russian so-called "oligarchs" and the like. And that to predict the next soaring or crashing move, I'd need to predict factors related to THAT, not so much the enthusiasms of trendy USA technophiles.

But I have no data whatsoever to back up that suspicion, or refute it.

Therefore:
[ x ] Bigot
Last edited by: DrawingDead on Jun 14, 2017
Nevermind.
ZenKinG
ZenKinG
Joined: May 3, 2016
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June 14th, 2017 at 11:23:45 PM permalink
The crash continues. Bitcoin at $2211

Ill let you know when it's time to buy.
Wong Halves Full Indices ------------ LoneWoLF
djatc
djatc
Joined: Jan 15, 2013
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June 14th, 2017 at 11:28:32 PM permalink
Time to close out your position with RS, Mike..... just sayin
They asked me how well I understood theoretical physics. I said I had a theoretical degree in physics. They said welcome aboard.
onenickelmiracle
onenickelmiracle
Joined: Jan 26, 2012
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June 15th, 2017 at 11:31:57 PM permalink
Quote: lopez77

Hi everyone I Am Sharma from india living in the UAE I ordered ielts certificate from () and I received my certificate within 5 days and it was original. My friend also got Toefl and GRE certificate from them as well I am here to share with you guys as I recommend them to you. Below is their contact details

********

There are fast, reliable and flexible,
There do not accept scam escrow,
There are popular and trusted,
Are highly experienced in documentation,
Have excellent pass into database.

I was wondering why I was seeing ads to send money to India. Guessing now because of these posts.
Looks like sh!t just got imaginary!
djatc
djatc
Joined: Jan 15, 2013
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Thanks for this post from:
RogerKintCrystalMath
June 15th, 2017 at 11:37:34 PM permalink
Quote: lopez77

Hi everyone I Am Sharma from india living in the UAE I ordered ielts certificate from () and I received my certificate within 5 days and it was original. My friend also got Toefl and GRE certificate from them as well I am here to share with you guys as I recommend them to you. Below is their contact details

whatssap::::237662903034

Skype ::::::::: ieltscert2017

There are fast, reliable and flexible,
There do not accept scam escrow,
There are popular and trusted,
Are highly experienced in documentation,
Have excellent pass into database.



do you take Wizcoins?
They asked me how well I understood theoretical physics. I said I had a theoretical degree in physics. They said welcome aboard.
RS
RS
Joined: Feb 11, 2014
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June 16th, 2017 at 12:05:10 AM permalink
'ello, my named is Barusch, wealthy within Nigeria. My dearest Father of whom have become wealthy by way of great comedy, humor, and art, for which we are known. For fear Of what my gret country has to become, I do wish myself move to land far away, of which to including moneys in The Nigerian Banking Insitution Of Nigeria. For it corrupt and steal moneys, To you I welcome my money, after my 10% gift to you for. Yourself may return but 90% to me (Jordan Smith). Myself's family be of upmost character and my reaching to you because. After transaction success, we continue.

God & Allah blesses you,
Michael Anderson
"should of played 'Go Fish' today ya peasant" -typoontrav
onenickelmiracle
onenickelmiracle
Joined: Jan 26, 2012
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June 16th, 2017 at 12:54:33 AM permalink
Quote: RS

'ello, my named is Barusch, wealthy within Nigeria. My dearest Father of whom have become wealthy by way of great comedy, humor, and art, for which we are known. For fear Of what my gret country has to become, I do wish myself move to land far away, of which to including moneys in The Nigerian Banking Insitution Of Nigeria. For it corrupt and steal moneys, To you I welcome my money, after my 10% gift to you for. Yourself may return but 90% to me (Jordan Smith). Myself's family be of upmost character and my reaching to you because. After transaction success, we continue.

God & Allah blesses you,
Michael Anderson

Why weren't we invited to your wedding .
Looks like sh!t just got imaginary!
GWAE
GWAE
Joined: Sep 20, 2013
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June 16th, 2017 at 1:04:50 AM permalink
Quote: RS

'ello, my named is Barusch, wealthy within Nigeria. My dearest Father of whom have become wealthy by way of great comedy, humor, and art, for which we are known. For fear Of what my gret country has to become, I do wish myself move to land far away, of which to including moneys in The Nigerian Banking Insitution Of Nigeria. For it corrupt and steal moneys, To you I welcome my money, after my 10% gift to you for. Yourself may return but 90% to me (Jordan Smith). Myself's family be of upmost character and my reaching to you because. After transaction success, we continue.

God & Allah blesses you,
Michael Anderson



I hope you copy and pasted that, if not I think we all know what your side business is
RS
RS
Joined: Feb 11, 2014
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June 16th, 2017 at 2:49:21 AM permalink
Quote: GWAE

I hope you copy and pasted that, if not I think we all know what your side business is


Pretty good, huh?

I think I could be a pretty good Nigerian scammer and write emails like that well, not to toot my own horn.
"should of played 'Go Fish' today ya peasant" -typoontrav
beachbumbabs
Administrator
beachbumbabs
Joined: May 21, 2013
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June 19th, 2017 at 2:04:42 PM permalink
Move Over, Bitcoin. Ether Is the Digital Currency of the Moment. https://nyti.ms/2tGpm9A
"If the house lost every hand, they wouldn't deal the game."

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