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Bitcoins Go Parabolic
In the last 48 hours, the price of the virtual currency has surged by 50% from $94 to $141 as the rate of expansion goes more than parabolic. This leaves us with the question, which line item on the Fed's Balance Sheet is 'Virtual Currency Transactions'... what better way to destroy an up and coming currency competitor than to blow a bubble in it and explode it?
That is a 14x rise since the start of the year...
Source: BitCoinCharts
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By shredding your fiat.
They are. It is very important the paper price does not reflect that.
The real question is, why aren't you buying hard assets like gold and silver instead?
I am. I am just diversifying. Junk silver and Litecoins thus far.
How do you know Bitcoiners, at the very least some of them, don't already have a sunken boatload or two of PMs, some real estate, guns, etc., etc., etc. and Bitcoin is just a compelling and groundbreaking opportunity to sink some leftover fiat into?
Please don't fall into the fallacious assumptions and presumptions that much lesser posters than yourself resort to in these BTC "discussions" BoP. Please, not you too man, say it ain't so! ;)
People on ZH are always bitching about no free markets and monetary/debt slavery, etc. but when a little free market monetary revolution and true monetary freedom comes along all most can do is ridicule it and come-up with the most laughable, asinine things to say to discredit it? I'm not saying you do or have done this BoP but I am continually astounded at the reaction BTC provokes from most ZH posters.
BitCoin is going to $796,000 within a year and you'll still be able to buy a satoshi equivalent to one penny.
You don't have to buy a whole BitCoin.
i thought you would've been smarter than this
and after the initial pump success, dump your stash on to a greater fool just about now
Keep buying BTC at that level, you might get your wallet BTK'd....
Whe I was a foolish young lad with a little bit of money and not much sense, I bought into a penny stock for a speculative diamond mine company. Its officers did a similarly fantastic job of encouraging people to buy now, get in early, and keep buying even if the price ramped. that too ended in tears as they sold at their designated hit price, and left everyone else holding the bag on the permanent downleg.
Fonestars post reminded me of that for some reason. Why would one talk about a currency in terms one would use as if it were a speculative investment. Perhaps beause its not really a currency, its just a speculative investment? Nah, couldnt be that.
could be caused by sheer load of traffic. i would imagine quite a lot of people sit by their PC, hitting F5 every few seconds.
as was the case a few years back when gold hit $1920...
Speaking of gold and silver, could The Bearded Bernanke please blow the gold and silver bubble back up? I am so fucking close to closing out ALL debt I have and would love to escape the shackles. I would gladly exchange my gold and silver to release me of the debt bondage, at least.
Just hold your metal, all the money creation will do it for you. You must only be patient.
DotGov has been trying to get CASH out of consumer hands for years, to close the tax-loophole. Bitcoin represents a trackable way of doing that, similar to credit and debit settlement systems. In this respect, all Bitcoin is, is another "fight the system" fad that plays right into the hands of the system it claims to be fighting against.
You are not "being subversive". You are not "fighting the system". You are getting set up to be bagholders.
Bitcoin is intangible. It is "electronic paper" and nothing more. It's not even worth as much as paper, which can be written on, drawn on, used as kindling, or folded into airplanes & origami animals to keep the kiddies amused. Hell, you can even wipe your ass with paper.
It's not even worth as much as shit. You can at least use shit to fertilize a garden. I can trade shit to the farmer down the road from me for fresh eggs.
Bitcoin is not Gold, and won't ever be. There may be a "Max Keiser acolyte" willing to pay you for your 'Satoshis', but that'll change.
A little science experiment for you Bitcoin boys and girls: Put on a Gold ring, and go into your local Kwikee-Mart and ask the Indian or Pakistani working behind the counter if you can pay for your energy drink, or pack of smokes in Bitcoin. Chances are pretty good that he or she will give you a WTF? look when you try to explain what a Bitcoin is. Then ask if you can trade him the ring your wearing instead. That same person will probably smile when you offer the ring.
"Bitcoin is not Gold, and won't ever be. There may be a "Max Keiser acolyte" willing to pay you for your 'Satoshis', but that'll change."
Bitcoin is exactly the same as precious metals, except that is not tangible. That makes it a MIMICKER of gold and silver. Though, is that good enough to be money in the 21st computer-driven century?
WHAT FUCKING SENSE DOES THIS MAKE?
"Bitcoin is exactly the same as precious metals, except that is not tangible."
No, it isn't the same. Bitcoin is modeled on an algorithm, and created out of thin air. It is NOTHING, other than "the concept of value based on the perception of rarity". It is worth as much as NOTHING is worth.
You always know a crash is coming, when a market gets crowded by the clueless.
I keep waiting for my Black Lotus card in Magic the Gathering to hit 2k, but they outlawed it in competition. FUCKERS! Must print more Black Lotus cards.
no the website mtgox where the chart comes from is up, but looks like their charts are not working today.
bitcoinspending.com
Objective: destroy bitcoin
Problem: bitcoin protocol is very secure, system is decentralized, making this difficult
Solution: destroy centralized pricing mechanism, so no one knows what they are currently worth. Take out the weakest link, create a panic right in the middle of a mania.
Great question: If the price is too volitile, then does that create confusion in the pricing of goods and services?
InstaWallet, an online bitcoin wallet. http://notice.instawallet.org/
It's shut down due to security breach. Again, the adage 'If you don't hold it, you don't own it' applies.
@Capitalist
Bitcoin as a libertarian litmus test is a strawman argument. Do you not understand how markets are manipulated? Can you not see that Bitcoin is subject to this? That is what is refreshing about many gold bugs. Many gold advocates see physical gold is a real investment, to be held as a store of value; these people are turned off by "paper gold," as they should be. Mtgox is just another roulette wheel. Enjoy it while you can. BTW, I'm not a gold investor.
no, i can't see how bitcoins are subjected to this.
central banks stand by to lease gold to enable bullion banks to dump shitloads of contracts at "opportune" times (ie, pre-market open, with limited depth) - this mechanic does simply not exist in regards to bitcoin.
hell, even bitcoin shorting is challenging.
@Escape Key
My point re gold is that physical gold investors are agnostic to the daily dollar price moves. As for Bitcoin, it's got all the characteristics of a fucking penny stock. You don't see how fast money could pump and then dump it?
no, they're fucking not. i hold gold, and don't give a shit about the daily moves, but every fucking time gold moves by 0.5% either way half this board either parties hard or claims manipulation.
BTC is a very young entity. volatility decreases with time.
@EscapeKey
Volatility decreases with time? Tell that to the EURUSD. It trades like a penny stock. Once a monetary exchange is opened, volatility ensues. BTC is all hype right now. Are you investing in Ripple? Namecoins? Litecoins?
Oh wonderful, another poster who starts replying with absolute childrish nonsense once he's disagreed with. Ripple? Namecoins? How fucking old are you?
Yes, volatility decreases with time. What is an excessive move in EURUSD? 2%? Oooh, that's so major in comparison to fucking equities.
I am totally with you on this. It's good to know not all long-time ZHers are against bitcoin.
Taking control of the project developers by banksters is a huge risk. I would be in hiding if I were them. Look what they did to entire nations for less of a threat.
lol if the Bitcoin market goes up, it's manipulated. If the Gold and Silver markets go down, it's manipulated.
I get it.
@Capitalist
Yes, all of these trading markets are manipulated. Do you not think Fed liquidity has drastically distorted all financials markets over the last 20 years? These are bubbles. LTCM, Y2K, Housing ATM, MBS, ABS, CDO, etc. What liquidity is there in the Bitcoin market? It's the reverse of the Fed and the USD. Now, you are introducing a very small money supply to more and more speculators. Who knows how high it will go, but it's a bubble phonemenon fueled by rampant speculation. Good luck to you.
funny how increased flows into bitcoins = "bubble time", but increased flows into bonds and equities does not provoke the same rhetoric.
@EscapeKey
Read what I have written in this thread. IT IS ALL ONE FED INDUCED BUBBLE. And many people on this board hold that view. Good luck with your bitcoins, litecoins, namecoins, ixcoins, shitcoins....
Oh really? Bitcoins are Fed-induced?
See, that's interesting. I thought bitcoins were considered high-risk in terms of money-laundering very recently?
But now, it's "fed-induced". Care to back up your statements or is it just another BITCOIN CLAIM [CITATION NEEDED] post on ZH?
And no, I don't think the recent bitcoin move is sustainable, and yes, it is most certainly due for a correction, which is yet another reason why I keep telling people to keep their eggs in multiple baskets. I do however think now's an excellent time to mine bitcoins, especially when electricity is free.
if the Fed and ECB were commited to a sound monetary policy, would BTC exist? because they are destroying sound monetary policy, BTC came into existence and is now coming into light....yes, Fed induced.
I think he means to imply, correctly so, that bubbles are induced by currency debasement....The Fed. Would you want to hold an asset that loses around 2% of its purchasing power every year?
OTOH, table currency gains purchasing power and could be stored in Bank of Sealy.
At least in the old days, you had to have your Brother-in-law help out scamming people in stocks. Now a days, we just use computers. Vastly more efficient, and they don't borrow your tools and not return them.
Ah yes, the sweet ambrosia of progress. Think how great it will be in 1000 years!
Regards,
Cooter
It might be a scam, but at least the blueprint is there for you to verify. Unlike that of central banks, that is.
http://bitcoin.org/bitcoin.pdf
I gotta admit Satoshi was a genius in inventing a system like this.
I cant help but feel that somewhere in some God forsaken corner of the Ukraine there are a bunch of chain smoking Russians sitting in a room full of PCs doing their damndest to hack this, maybe at the transaction level, or somewhere else, but I feel it in my bones. And when they do manage to find a hack, no one will know about it until they've already made their money on it.
Happened today 4/4/13.
The ONLY way I see bitcoin being manipulated is if big money players (Soros, Buffett, Blankfiend, Dimon?) are buying to pump it up, and then on an agreed day they sell it ALL. (causing a crash.)
Is this the pump up?
It's all about Float.. 10000 coins get spamwised all over the net media, more people buying price goes up. It's a penny stock with 10000 shares float, advertise that on CNBC and you got $100 stock overnight. This bitcoin hype will crash as fast as it raised.. Create some website with 2 buttons and start selling some bobcoins as well:)
are you thick? you can't use a penny stock to buy stuff but with bitcoins you can. It is a thriving economy outside of the goverments hands..
you people will have to dig deeper to bury your heads as this grows
i take exception to this
to buy or sell is simply another def of "exchange" or "swap" one thing for another. btc pretends to be money but it is more like, imo, purchasing a stock in an idea. so what that some websites are willing to exchange btc for something else? that still does not make it money. btc might be a collectible items for what we know; just like another fad that may go away soon. just like beanie babies.
Tulips anyone? Wrong, the true test will be when I can purchase diesel for my tractors with bitcoins. As as far a "store of value" goes (which is something else entirely) I will keep buying physical assets of real value (those that can be leased are all the better for future revenue).
as long as you provide me with arbitrage, i will take that deal.
i charge 0.1 BTC for 1 gallon of petrol.
Do your suppliers sell you petrol in bitcoins?
Regards,
Cooter
that doesn't matter.
when i buy cheap chinese iPad knock-offs, the suppliers sell them to me in RMB.
my price is that + arbitrage.
It might not matter to paper-pushers like you, but those of use that actually have to deliver a real fucking product to the market see things a bit differently. None of my suppliers are accepting bitcoins. It matters not, my tribe and I will still be well fed and warm.
they will change their tune soon enough
how fucking pathetic.
as soon as someone writes something with which you disagree, you resort to condescending remarks. paper pusher? really? please state where exactly i tell you to buy bitcoins? or gold? in fact, i make a deliberate point in telling people to do their own diligence before investing either way.
i was making a deliberate point that the medium of MY exchange has NO impact of the medium of YOUR exchange as long as you receive said goods - and that is a valid point you have not disproven in your puerile post.
Isn't it the same story with gold and silver?
The true test of an intelligent person is whether they know what something isn't.
I'm not a Libertarian. I'm an Anarcho-Primitivist and therefore I hate anything digital.
Then what are you doing on the Internet?
Because there are no real human communities left.
Very effing close to a blowoff top imo. Consider selling very soon gents.
I am a Libertarian. Have been since 1977. I wish only the best for BC and it's investors... but I have some questions. Does bit coin have their own police force? Army? fleet of drones? a mad power hungry Attorney General? Their own magic printing press with a politically connected boss? Just look at what Ben and crew are doing to gold and silver.
When they are ready they will take BC down in one fell swoop. Most likely it will happen world wide but you know for absolute sure it will happen here in the States. The only question is when. With BC flying high I'd say the answer to that question is not far off.
I honestly don't belive this is pessimissim but absolute realism based on what I see coming from TPTB.
as a libertarian i see that as a positive
why the fuck should my taxes pay to protect the currency, if the currency is as good as it's supposed to be according to our monetary high priests?
I agree wholeheartedly. Currency is just that...simply currency. A convienient and agreed upon way in which we all engage in commerce. But enter politics and the banksters of the world and currency is now a means of control. I simply point out the fact the our government does have an army, etc and will use it to protect their faux currency. It should go without saying that tax dollars used to support this behaviour is abhorent.
Does anyone remember the name of that outfit that was using silver coins in the same manner that BC is using their currency? I seem to recall that the US government shut them down and confiscated all their "currency." Yea sure one could make the claim, which the US government did, that they were minting coins. Which of course is "by law" a power given exclusively to whichever government you happen to under. Yes BC is not "minting" anything but still TPTB simply can not allow them to exist and a case will be made showing how evil the people are who run BC. And of coursze by extension anyone who buys, trades, or in any way uses BC. I don't wish to see that happen. I'm simply playing the devil's advocate here.
The argument isn't about wether BC is a viable alternative. The argument is about how the governments of the world will see BC. The more succesful BC is the more of a threat to the established powers that be.
I think we all know what happens when these people are threatened. Doesn't matter if the threat is real or perceiveid. The result will be a massive use of power, usually in the middle of the night, by men in masks, accompanied by flash bang grenades, shouted commands, pointing of automatic weapons, shooting of guard animals, etc, to shut them down. It is simply their MO. Expect it.
So to you, a libertarian is just another sheep to be sheared, then? WTF?
The true test of a libertarian is whether they accept Bitcoin as just another competing form of money determined by the free market.
I agree. Therefore "Simon Black" should allow payments by bitcoins for his"products". In my opinion , it would be a fare exchange: one BS for another.
The true test of a cognitive entity is their abhorrence of labels that compel them to buy into entire blocks of ideology...
Indeed. Well said.
Channeling Mathman "But it only costs $5 to mine"
The true test of a Libertarian is whether they accept bitcoin as just another competing form of fiat determined by the rigged market.
All fixed.
(note the caps)
I'm optimistic about bitcoin on a long term basis, but even I can spot a parabolic blow-off when I see one. They usually don't end well.
One true test of an idiot is if he redefines every craziness as a test of libertarianism.
These high priced condo's in Miami and New York must be lined with Bitcoins
That's a really big virtual bubble.
I'm gonna turn the sound down on my computer until after it pops.
It is a soothing sound though, plus it has bubbles.
http://www.listentobitcoin.com/
Bingo.
Look at that smug sumbitch....
He has a right to be smug. Nobody blows bubbles better than Ben Bernanke. Nobody.
Im sure M. Jackson did.
I'm sure Bernie Made-Off is blowing Bubbles right now
Do some homework on what Bernie's prison life is really like and get back to me. While he is in prison, its about as close to a vacation resort as you can get.
Regards,
Cooter
He got beat up pretty bad once.
http://www.cbsnews.com/2100-201_162-6311006.html
That's Bubba, not Bubbles. How many times I gotta tell you that...
Prison code. [nudge nudge, wink wink]
MJ's death was almost genocidal when you consider how many jokes died too.
Why does MJ love shopping at K-Mart?
Because little boys' pants are always half off.
"Did you hear that MJ & Elton John are collaborating on a new song?"
It's called "Don't Let Your Son Go Down On Me."
Sigh . . . Gone; all gone. RIP.
lol you are an asshole.
Can smug be scrapped off or do you need to smack it off?
How do you remove tough to get out smug on a mug?
point blank
it can be lopped off, as i recall
Roll the motherfucking guillotines and let's see if he keep smiling when the head is separated from the shoulders.
forget guillotines. too complicated. i like this idea: http://tinyurl.com/czegrmg
WHOA! JFC! Don't click that link unless you have a strong stomach. (But I "greened" ya for the sentiment.)
~~~
When contemplating the financial crimes that are being committed against humanity, I try to frame the issue this way: "What would Stalin do?"
...and the metals used as money for 1000s of years go down...
Makes almost perfect sense..almost
@ziggy59
The value of gold (or silver or any capital asset) is not determined by its price in dollars.
US Treasury Secretary Lew and IMF's Lagarde discussed global economy and Europe developments
"Short the good stuff!"
Correct. Value is something each individual and organization ascribes, not any collective such as a market. Markets show prices. If you have no clue what value to ascribe to something you might look at a market for a suggestion, but NOT as a definitive source.
PMs are not an up and coming currency: They're a well established, old enemy of fiat.
There are so many people who already own and see value in PMs (though, not so many in the West) that pumping up a bubble in PMs at the moment would risk triggering a runaway reacting which would crush the dollar and most of the other fiat currencies that have been hyper-abused by their makers.
Now might be a good time to take profits and convert the profits into physical PMs.
Heretic!
Easier said than done, at present. Have heard several reports recently of 'buy' transactions going through at once, but 'sell' taking as much as two weeks before the money hits your bank. Something fishy about that, since common sense dictates that there must be pretty close to the same number of purchases as sales... excluding freshly 'mined' BitCoins, of course.
No way in hell am I turning my Bitcoin into fiat.
Wasn't aware that physical gold and silver was fiat...
Depends if you mandate that people accept it for payment I guess
Last I checked it takes about 10 minutes to sell some gold coins and deposit the paper linen in a bank to pay bills. How quickly can I get cash for my bitcoins? Where do I go in the Philippines to turn my bitcoins into Peso's? Do you have a physical address in the Philippines so I can show up with my thumb drive and walk out with my Peso's? NO? No.
There is only ONE way this ends, and it is BADLY.( the entire CONCEPT was put in place by the 3 letter dudes!)
Dimon is not in that bubble ? Need a Wale for short that rality
This is what silver should look like without the fed govs boot on its throat.
Bingo. Bitcoins are a market controlled by gold bugs (the overlap has got to be at least 70-80%), with no central banks, no gold banks, no hedge funds. No short sellers, no futures, no derivatives, no "paper Bitcoins." This is the future chart of gold when the system collapses.
i don't think the overlap is quite to that extent. a large amount that i know of, are anarcho-geeks, who use their spare cycles to mine.
Except this price movement in gold/silver wouldn't qualify as a bubble...It'd merely be the metals catching up to the true rate of inflation.
That price is 25% below the Chinese price. If someone is pumping the bubble, it is the PBOC.
secondary effect - AMD 5970's are selling on eBay for ridiculous money.
7970 is the far better option.
<3 gibs
CME can't hike margin on bitcoin trade
Nor can they be shorted, But they sure as shit can be distorted and manipulated.
This is a "teachable moment" limited supply/infinite demand.
Perhaps this is true free market supply and demand with a misallocation of capital twist.
One factor to consider however is awareness, thus the parabolic nature may not be reflective of bubble-type pricing. Everyone knows what gold and silver are, they've been around for all of human history. However, as bitcoin price rises there are more articles about it and more people become aware of it, who tell others, etc. Eventually a critical mass of awareness and adoption will develop and an equilibrium of sorts should form. Malcolm Gladwells 'The Tipping Point' talks about this.
Edit: Also look at bitcoin search interest on Google Trends, it is also parabolic. With Russia having the most interest apparently. This isn't a US-centric phenomena folks. Any analysis discounting the novelty and newness of this 'alternative' is simply going to be incorrect.
http://www.google.com/trends/explore#q=bitcoin
then look at gold's search interest
http://www.google.com/trends/explore#q=%22gold+price%22&cmpt=q
and silvers, essentially flat
http://www.google.com/trends/explore#q=silver&cmpt=q
Does Max Keiser run Bitcoin? He just said Bitcoins headed to $500,000 plus USD each?????
He currently has 2 million dollars worth I believe.
Someone could probably just hack his twitter account and say Bitcoin is a sham and it would crash
"Currently" He has no idea what his bits are worth.
I appreciate a lot of the work Max has done - but he was telling people to keep buying silver like crazy near $50/toz.
It is just more evidence of the psychotic nature of humanity now where everything is a get rich quick scheme. Everyone is a gambler, a bettor, a speculator with all manner of rationalization for their dysfunctional behavior. It is a plague on humanity now...recklessness abounds. If it moves, buy it! Buy high, sell higher. Tulips anyone?
You know, you are right. I am going to work. I got bills to pay.
Chat y'all later!
Regards,
Cooter
Not true. For me it's really the quest for the perfect money.
I am rather young, and I ask myself how I will retire in 30 years, or if "retirement" is even a valid concept anymore.
So I diversify and have monies of all kinds.
Fiat money is just what I use to pay the bills.
But how do I provide for my old age?
My parents are the last ones who are profiting from this system.
But for my generation this system is already dying, and it should be visible to everyone, but sadly it's not!
If one bought Bitcoin cheaply..a few months ago..can exchange for real money..
http://coinabul.com/silver/index.php/silver-sorted-by-weight.html?limit=25
I likey, to holdie, my shiney..
If we can ever expose the naked short selling of paper metals I would expect a chart of gold or silver (your shiney) to look like the one for bitcoin.
so you do see what can be manipulated and what can't right?
It would take a paltry amount of money for the Fed/FBI/CIA to move in and aim to destroy the market. You could probably do it for less than the US spends in 30 minutes. Go in day after day and bid to hold the market then continually move the bid up and lift offers. Get it to as high a level as you possibly can. At some point I am sure shorts will get involved if they have not already. Squeeze the crap out of them then take your entire holdings and aggressively dump them at market to crash it back down.
This would end "bitcoin mania" as you have now re-created the .com bubble and crash with it. Goal is to get the general public to be scared of bitcoins due to crazy volatility and wild swings - risk that far exceeds the risks someone might have in their common currency even if you think the govt will steal part of your dough.
Have you ever tried buying bitcoins? Please do so before you give us your guesswork.
it is like cavemen scared of fire over here.. wtf with the dumbness ??
you'd thnk all the reading from ZH would of gave them a sharp focus on what a free market can do... i keep my PM's too but if you don't have bitcoins you are just a weak sheep
when playing with fire, one runs the risk of being burned .... just sayin'
I wield my bitcoins between wet gloves.
shorts? in order for you to short, you need someone to deliver you longs for you to later buy back. shorting is not possible in any meaningful quantity on BTC markets.
for now.
but, if this keeps up, etf's, derivatives, and paper iou's will follow in no time
There WILL be more demand for shorts as the fear of a bubble/massive selloff rises.
I think it's fair to short BTC? Why not?
The market swings both ways.... The price maybe spiking but can anyone truely answer why right now? The real test with bitcoin is how hard is it to turn those coins into something else like goods, services or other monies. Right now the way I see it is you ain't getting rich on this since it looks like no one will change a large value amount of coins into cash just yet. That will allow it to grow fractionally while keeping it from collapsing in the short term. It is like an unintentional safety bleeder valve. Think of it as a decentralized capital control mechanism like a parachute slowing velocity downward. I firmly believe crypto-currency is a long term winner the issue with bitcoin specifically is it is not backed by hard assets because it is not "offically" sanctioned currency. It is backed by faith and people who want it to suceed. Crypto-currency will win the long term war even if bitcoin loses the short-term battle. The old people will die and the younger more technically savy types that get will eventually inherit the world. Change is inevitable same will happen to them at some point, so on and so forth until the end of civilization.
you can buy Avalon miners [$20k eBay flippers] with them.. is that large enough?
You can buy a house in Canada with them, look it up I sent the tip to Tyler a few weeks ago but they didn't run it here
So I can buy a miner what real value does it have outside mining coins to add into the system. Just remember the people who make those miners didn't pay for the parts and labor in bitcoins. They have skin in the game and those miners a return on investment. As the difficulty rate increases that added M/hash mining power gets negated anyways. The key to mining is being able to make a profit on it after initial investment and cost of electricity to generate coins. They have skin in the game. The house thing well it is one thing to you'll accept bitcoins it is another to actually accept it let alone someone be willing to pledge enough coins to call the guy on it.
The infrastructure and conduits are being implemented by the free market though. Bitcoin atms are an example of that. That is the entrepreneurial can do spirit in action that pushes the long terms odds towards success.
This is all my fault. I wanted to buy silver and bitcoins last weekend. My silver order went through, but on Monday my bank couldn't transfer funds internationally without an intermediate bank, so the bitcoin order has been postponed. Therefore, bitcoins up, silver down.
kill the bastard :)
there are rumours derivatives market for bitcoins will be opened shortly
now THATS a sign .... swaps too?? game on
What do I pair this to so I can short?
The typical, predictable 10am slamdown on gold....took off $6/oz
Fuck! I missed another one!
everyone should forget about bitcoin and get facehooked already. [/sarc.]
Is it possible to short Bitcoins ?
Yes..
How to short bitcoins (if you really must)
http://finance.yahoo.com/news/short-bitcoins-really-must-060011082.html
Thanks... Still, looks complicated.
A fairly myopic article written from the financial matrix. "There are only 21 million bitcoins . . . . "
Try 21 million x 10 to the 6th power. People are already transacting in fractional bitcoins.
FD: am primarily a long term gold/silver bull, but I do love the particular properties of bitcoin that allow it to frustrate gubermints and banksters - and people too narrow to see the possibilities.
hypothetically speaking, imagine you're a central bank that prints confetti at will. the cb steps into the btc market via its agents and naked shorts btc to crush the market. and then, instead of delivering btc, the cb settles in its own confetti. as if that was not already done in the gold/silver futures. and see if anyone can get any legal remedy against a cb.
Viability or no, manipulation or no, my experience in penny stocks says take profits and look out soon, this is not a sustainable ascent. Expect a nice fib retrace when it blows, rebuy around the 62% mark for the next run when the true believers race back in.
BTC has some advantages, but its an illiquid stock enjoying its pump run IMO at the moment. Needs nothing more than sentiment shift to oscillate wildly here. Couple big profit takers could be all the catalyst needed, or it may run to $500 before cashing. Tops are hard to call but there will be one, of that we can be assured.
High:$147.00000
The actual true value of BitCoin judged against a basket of currencies is $796,000 per BitCoin
See the latest Keiser Report
It can double daily for quite some time to come. Problem is the rate of change says that it will begin to quadruple daily within a week.
Spring 1999 DeJaVu