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The Bitcoin Derivatives Market Has Arrived
Having discussed the advantages and disadvantages of the crypto-currency and noted the extreme volatility of the last few weeks, it seemed only a matter of time before some ambitious entrepreneur tried to monetize the volatility. What better way to "manage the risk" of your virtual currency horde than buying (or selling) options (in a more levered way). Predictious, the Dublin-based prediction market, this week unveiled Bitcoin Option Spreads enabling both long- and short-positions to be constructed on the already extremely volatile 'asset'. Regulatory clamp-down in 3..2..1...
The basic mechanism is the same as every option spread market - a fixed payoff for getting the "bet" correct, in this case 10.
In the case below, the bet was that Bitcoin will (or will not) close at $1400 on Wednesday January 1st at 12:00am,
if you believe it will (close at or above $1400) you "buy" the contract at 3.49 (and should you be proven correct you are paid 10 - thus gaining 6.51, similar to buying a call option)...
if you believe it will not reach $1400, you "sell" the contract at 0.55 (and should you be proven correct you pocket the 0.55 and pay out 0.00 - just like writing a call option)
Quite a skew has developed already...
As Predictious notes,
Predictious is now bringing this to the next level by offering a new type of derivative contract: option spreads on the price of Bitcoin. In the past couple of weeks, Bitcoin has been extremely volatile, and it is important for traders to be able to reduce risk, and hedge their Bitcoin position. They can now do so in an easy and cost efficient way by using option spreads.
Option spreads are very versatile, while still offering limited risks. A bullish investor can use a vertical spread to benefit from Bitcoin gains, while limiting risks if the price crashes.
On the other hand, bearish investors can use them to short Bitcoin. Predictious is currently one of the most reliable way to do so. Since losses are limited with option spreads, investors are not exposed to counterparty risks, like they would be when trading futures on competing services.
Aside from Bitcoin traders, miners can also use spreads on the Bitcoin difficulty to reduce risks associated with investing in mining hardware.
...
To date, Predictious users have deposited over $300,000 in Bitcoin on the website.
“Traders are obviously very interested in Bitcoin derivatives, but the number of businesses accepting payments in Bitcoin has surged in the past few months”, said Flavien Charlon, Founder of Pixode, “those businesses have expenses in US Dollar, or Euro, and need to hedge their Bitcoin position. The type of derivatives we are offering will be very useful to them as well”.
The bottom-line is that while we can see the 'use' of such a market to enabling some lower cost hedging of any wealth one might have gathered in Bitcoin, we suspect - just as in the case of many other assets - that the underlying asset will see its volatility rise as the derivative (and levered) markets becomes the tail that wags the dog.
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hugo makes a bold call.
Where is bob dabolina when you need him?
Yes, please. You can see into the future. What will be the price of orange juice, gasoline, rhodium??
Toolshed.
I'm starting to believe that BitCoin is ver 1.0 of the Fed's exit plan.
David Chaum's blind signature system was originally intended for the banks to use. They declined, adopted the system we have today, fucked that up, now, perhaps, with no other alternative, they will start using the blind signature method and fuck that up. Of course, the first thing they fucked up was gold and silver.
The problem isn't necessarily the currency, it's the banks and all of the moral hazard created for them and politicians' ulterior motives.
Resolve to serve no more, and you are at once freed. I do not ask that you place hands upon the tyrant to topple him over, but simply that you support him no longer; then you will behold him, like a great Colossus whose pedestal has been pulled away, fall of his own weight and break in pieces.
Étienne de La Boétie.
You are a rare breed on this site. You're in the top 5% of smartest people for sure.
Keep it up comrade.
The main problem is that bankers protect politicians and politicians protect bankers. Everyone else is a basically a handservant. The bankers and politicians will try to maintain the status quo by whatever means they can manage.
Nice try, but it's clear you're not as bright as the OP.
Kissing ass won't get you anything but poop on your lips.
Yes, you've certainly added some insightful comments too. Why, I'm sure the Mensa people are pondering your nomination right now.
See, you are a fake, you're not smart. Your little ego can't resist the cheese trap.
You're a imposter.
And you need to crawl back up Fonestar's arse where you belong. You and your ButtCoins. Troll.
http://www.youtube.com/watch?v=32iCWzpDpKs
brought a tear to my eye
dummies and their toiletries!
.
NRBQ Dummy
http://www.youtube.com/watch?v=QSqgEH2l_5g
You're well on your way to getting your Costco law degree.
slow motion treasury and bank robbery,
exit plan rule *1, open all exits and keep/leave
them open and move faster than everyone else.
no one will see anything or know what happened
when it is all done in nano seconds in the algo
high freak domain.
innovation for a better tomorrow, the achievement
and boon of technology liberating man of the pains
of labor and work, the fruit of progress!
debasement and all that shucks and jives off it,
onward!
Believe it. It separates out the double coincidence of needs while perfectly enabling means testing.
well. that didn't take very long. looking forward to reading about the various and many experiences of BTC option players getting called away again and again and again. he he
I want CDS on GLD (ETF) - Sponsor will crash
Wait till the manipulation kicks in.
Now why would anyone want to manipulate the biggest decentralized value exchange system in the world?
THE SMALL MATTER OF LIQUIDITY:
"Asked to comment on the lessons we have, or should have, learned from our recent experience with derivatives markets, Hill remarks that liquidity, transparency, and capacity (i.e., market depth) have always been important determinants of market performance in the short run and of overall market success in the long run, and they are still critical factors today. The biggest events affecting derivatives markets in the past 25 years have been instructive in this regard, including the stock market crash of 1987, Russian debt and LTCM crises in the 1990s, and bursting of the technology and housing bubbles in the 2000s."
This is being also done at " Binary21 " , BitCoin options
This is the only way I'd accept butt coin (haha autocorrect). You have to have some sort of hedge. Thing is: whoever is underwriting the options isn't using checking account money as collateral, so how much counterparty risk are you taking?
Yah, you need to hedge your $15 of wealth.
Pretty much. To run a business and actually trade goods and services for butt coins, at least. Unless someone's going to let me keep my books in butt coins only.
Otherwise, these things are no where near on the verge of being some dollar alternative.
I do like these articles though. It helps to understand that you need a money to do more than just settle a transaction or be a medium of exchange. It feels like people are missing the unit of account aspect.
For sure you find these articles 'interesting' like the rest of your boys here. "oh that's interesting" .. what a bunch of fools.
Please, don't ever buy butt coins. They apparently stink and for sure don't tell anyone on ZH because you can't make spoons and bowls with them.
ZeroHege, you're either with Stupid, or against us. Circa 2013
The last site that tried a futures market got hacked and everyone lost their shiat.
Stupidity is like weeds, you just can't stamp it out... they keep coming back and breeding.
The seeds, the wind has spread them far.
Oh, great another get poor quick scheme....................................................................................................
@magnetic_silver_ideas
Seal Troll Rating: 0
Issues: Trite one liner with excessive punctuation/bolding, implied pun that Bitcoin or associated Bitcoin ventures will ensure loss, lack of understanding of basic computer and technology concepts, multiple posts with diminishing return on investment of reader's time.
Thank you. We will forward this to the appropriate authorities for review and get back to you when FIAT is backed by gold and once again becomes a reserve currency.
They can only do derivatives to the extent they can attract the bitcoins to the exchange. Otherwise they will have to buy up a whole bunch of them, which is of course very bullish.
On a possibly related note? Vircurex is now paying interest daily:
1 Dec 2013 - Earn interest on BTC, LTC and PPC deposits We will be releasing today our function of earning interests on account balances for BTC, LTC and PPC. The interest paid is 15% of our collected trading fees for the coins. The payout is every 6 hours. See the help section for details.
07 Dec 16:00 0.0000751 BTC Interest payment
07 Dec 10:00 0.0001349 BTC Interest payment
07 Dec 04:00 0.0002074 BTC Interest payment
06 Dec 22:00 0.0001358 BTC Interest payment
06 Dec 16:00 0.0003739 BTC Interest payment
Are those your interest payments, and if so, if you don't mind me asking, how much do you have on deposit?
hmm so they are leveraging your account to trade for profit. me thinks this will end badly.
oh well, I am sure the free market will sort it out. at least this is better than the shadow banking system of private profits public losses...
This could be the case, or it could be a way of attracting more people to their exchange. The claim is that they will pay out a percentage of the fees received from trading transactions. Maybe they assume a depositor will trade if he has his BTC there, meaning more transactions and more fees. The house is keeping 85% of the trading fees. If they can offset the cost of the "interest payment", which I think should be thought of as "Profit Sharing" given these descriptions, by increased trading revenue then it's a pretty smart marketing ploy. It may be rescinded in the future if it fails to attract enough business.
Broughtto you by... Bernie Madoff.
Tadaaaa.............
Fractionally Reserved Bitcoins.
What a waste of time this is.
Can we please chill with the constant Bitcoin fetish?
It would be great to stop talking about the elephant in the room.
Yah, let's return to talking about the mysterious fort knox gold instead.... pathetic.
Clearly everyone here wants more bitcoin stories, or they wouldn't comment at all, and the article "score" would be zero from no votes.
Or... its just another Huffington Post-esque clickbait scheme, who knows. One thing I do know, its driving the trolls crazy, so at least that's something worth noting.
Clearly, they want everyone to buy gold so they can make spoons and bowls. That's where the intrinsic value rests with gold.
ZeroHedge alright.
TEETH.
Silver's for spoons.
Sure, you could go with silver for a tooth, not as good, or gold for a spoon, which is overkill in cost & doesn't confer the anti-bacterial benefits, but whatever.
LOL. You ARE the trolls, you and MillionFonerBonus_.
It's not a fetish, its a full blown perversion.
the difference is clearly defined by what you use for spanking:
1) open-hand
2) spanking paddle
3) or in the case of bitcoin, if you "buy" it (burn your money) you get spanked by the rest of the entire planet, come due.
speaking of mass hallucination ....
482 Strange stories for the mind
http://www.youtube.com/watch?v=aePD4wEynKA
.
815 The Jesus We Changed
http://www.youtube.com/watch?v=sV6p-5-ai_w
.
Genesis 32:30 - "And Jacob called the name of the place Peniel..."
http://www.youtube.com/watch?v=9WUGTIE8tqU
.
the powers that be, the masters of today:
there is nothing that will not be avoided and or condemned
to avoid an honest days work or valuation in this world of "theirs".
.
"the "masters" of the universe will kill everything
before they give up their folly, truth and justice be
the enemy at every turn." anon.
You may want to start a thread on GodLikeProductions with this fear mongering, doomsday, sky is falling mantra.
Only your mind needs to be entertained to stay 'interested'.
you may have noticed .....
the fear mongering market is already locked up by the
masters of the money supply, i conceded. doomsday and
sky falling is a thing of the past and our minds will
only survive in the event our bodies are sustained and that
is the thing these controlled, monopolized and manipulated
markets need to enslave to survive. good luck and
best to you.
there comes a time.
Neil Young ~ Comes a Time ~ 1989 ~ Great Sound! Acoustic ~ Jones
http://www.youtube.com/watch?v=1_tDE71y5WU
.
mantra
who cares, they win..you lose, you ain't them, if you win and you ain't them buffalo bill says you get the hose again.
There's no real money ever to be made on calls unless you're freaking early and it pops tomorrow.
The only profitable option trades are puts, so If bitcoin ever goes over 1100 again I may buy a put just for the fun of it.
Yah, perfect... for the fun of it. Do it. Please tell everyone what you will also do later today.
Well, I HAVE had a look at the website of this option casino and it is not clear to me exactly who is going to be standing the other side of the trade from me - should I choose to make one.
Is it the `exchange` itself, or are they a peer to peer platform for arranging `trades`? they claim there is `no counterparty risk` hmmmm
To me it looks like they are making a market themselves in the same way the spread betting shops do - IG Index etc etc. With the better spread betting firms I can for example be long or short stocks, bonds, currency with a cash settlement either way - no need to borrow stocks for shorting or take delivery of anything I `buy`. In fact it is impossible to take delivery, settlement is always the difference in cash between where you buy and sell. And yes: lots of leverage is available. But for those not concerned with day trading who can stomach the bigger spreads than those in the `real` underlying market there are advantages. In the UK profits are deemed to be gains from gambling and are therefore tax free. This is excellent if you want to short a stock with a spread better to protect yourself from one you own and think will decline in price - the profit on your hedge is tax free and the loss on the real shares can be used to offset gains elsewhere. Obviously if you are wrong ti works against you - you have lost money that is not offsettable angaist anything, and have a taxable gain on your underlying holding. Most of the volume the spread betters see is probably not hedging at all, just people without access to the underlying having a punt. Upmarket internet gambling perhaps.
But the big spread betting firms offer a valuable service. And obviously they need to manage their risk, they do this in the real / underlying markets. If the customers of City Index are big net buyers of FTSE`puts` or outright sellers of the index (settlement can be rolled indefinately with margin adjustments either way) then they will sell some futures or buy some puts in the real market. They do not just hope for the best and in 2008/9 had to make some very large payouts to customers who had put on well considered hedges via them.
So this outfit looks a bit odd in that it seems you can only open an account with Bitcoin. When I can open an account with fiat and just trade the bitcoin price without all the hassle of `wallets` cold storage` `tainted coins` `passwords` etc etc I might be interested though - because i DO think there is a wild ride ahead before they find their fair value - and it could even be very close to zero.
So if i were to short Bitcoin buy buying one of their puts - how do they hedge their side of the trade?
The troll army is no match for magnetic_silver... all the kings men couldn't put back their conspiracy together.
Crypto...Pseudo...Scam...Snake oil...Mythologial ... Ponzi ... all come to mind.
Bernanke's bed buddy is what comes to mind. You pathetic fool.
Place your bets...place your bets.....
House wins.
That's why you shouldn't play. I won't.
LOL Come on guys, we are getting nuts now, we are re-building our economy on gambling on gamblers.
.............................. This house of cards is going to come down soo hard.
In answer to the question you asked about my avatar yesterday, yes, it's Stefan.
Cheers
then we'll build a ship made of cards instead of a house!
and build it inside a BOTTLE made of cards!
Bwahahaahahaaaa there no stopping us now!
Counterparty risk.
It begins, BC leveraging and paper offerings. How long before you get a "bank run".
Nothing new under the sun.
Except the world's largest decentralized value exchange system.
Centralization and standardization is the nature of things as the existing exchanges drive to grab more clients.
Where will these derivatives be traded/cleared/handled? In this case Predictious.
https://www.predictious.com/terms/trading-disclaimer
"Do not enter an order to buy or sell shares in any market on Predictious if you do not accept Pixode's absolute right to settle or unwind any market in any way it deems appropriate. You may lose all your deposited funds and any profits previously accumulated by trading Predictious markets."
In any case, here's an example of what could happen:
"Judge Orders CoinLab to Give Bitcoin to Bitvestment"
http://blogs.wsj.com/moneybeat/2013/11/07/judge-orders-coinlab-to-pay-up-in-bitcoin/
"Bitvestment sued CoinLab last week for breach of contract, contending that the Bainbridge, Wash.-based company isn’t living up to its obligation to provide 8,000 bitcoin under an August arrangement between the two firms. One bitcoin was worth $295 Thursday afternoon on the volatile Tokyo-based Mt. Gox exchange on Thursday, giving the disputed 8,000 bitcoin a value of $2.36 million."
The next step... Bitcoin/Cryptocurrency stock market and/or IPO of a BitCoin company into the normal stock markets.
No you retard. It's not the nature of things. Nature itself is decentralized.
Man has copied nature for almost every need. From flying, to velcro - man immitates his environment.
There is no example of centralization in nature, nor are their any bankers in nature which do nothing but take a % cut on each nut the monkey eats.
going out on a short limb here (sarc):
you've modeled your behavior after watching a monkey jacking off to gay porn in his parents' basement while succeeding beyond his wildest dream of becoming an issuferable prick?
well done. mimicry knows no bounds.
Sure, that's about the maximum depth of your reasoning... we're all satisfied with that.
And yet the blockchain ensures that Bitcoin will become centralised. It was designed to require centralisation in order to function at higher transaction throughputs. The speed of light guarantees this.
Clearly designed by the existing establishment, once centralised to a smaller number of bigger players they can just come in and buy them out. Tada, the song remains the same.
There are definite positive and negative arguments to both centralization and decentralization. However, it seems in history of man there is a tendency towards centralization and standardization. Whether this is influenced by some "hidden" forces or just from natural drive and occurances is another question.
Ok, use of the word centralization is pretty broad as different things in nature would be centralized (ie. brain/nervous system of an entity or looking broader towards social/economic hierarchies)
I guess a biblical reference that could apply is the Forbidden Apple or Pandora's box, once you pop you can't stop. Adam and Eve (taking as an example if you don't believe in such things) discovered something with the knowledge they weren't supposed to have whatever it may be that drove man from naked paradise to industrialization.
The word, knowledge, in the context of the Adam and Eve story means Procreational Sex. The fruit of the tree of the knowledge of Good and Evil means that they knew one another and conception happened. Everytime that a Man knew a Woman in the Bible it is in reference to offspring. It was not about recreational sex but procreational sex.
Adam knew Eve and produced Abel and Cain, one Good and one Evil. Does it now make better sense?
no, it still sounds like gibberish of people too scared even as adults to imagine a world without a super-daddy to protect them.
Tribal, basic, underdeveloped thinkers.
That's no man you are imitating.
flocks of birds.
schools of fish.
Tribes of humans.
ant colonies.
bee hives
bacterial colonies
You were saying, Great Retardo, man of the mountain (of Fail)?
Would not surprise me. Wallstreet whores would sell their mothers if they could.
what value?
what exchange?
People are trading electronic ponzi tokens for electronic slave (dollar) tokens.
Bitch, please.
Hello Good Friend!
My name is Prince Abboud Jamami and due to a recent inheritance from my royal family, I would be most appreciative to exchange my newfound fiat currency wealth for bitcoin. If you would, at your earliest opportunity and of good health please send me your private Bitcoin keys I would be happy to exchange hard currency to you as soon as I have received them. I trust you are of the mindset that we can be most profitable in the relationship as soon as possible. Please forward your key to the following address...
/s
Hello walking peice of meat that inhales air and exhales co2. You are inconsequential. Good day.
What happens when you short electrons? They overheat and burn up.
Pretty much the same as shorting gold electrons.
Down arrows recharge the magnetic_silver... the flux of the field has positive and negative charges, which remain, no matter which direction the arrows are pressed.
Psychological warfare is on you slaves.
Fagnetic_Silver, sir, you are the greatest Troll. I applaud your shitheadedness and wearwithal.
Thank you kindly. Yes, precisely, addressing the bunk reasoning on this site is known as trolling. Everything else is known as 'posting interesting comments' and questions... so that Obama bots can reply to each other's threads and stroke their egos.
Ben Bernanke's boy scouts are out and about.
One day, your fiat money will be backed by gold again. LOL!!!
ObamaBot Activate! Form of EBT card!. I just sold my gold for the rich future of BTC. I will join you in Trolldom!
I will name you Roy! http://www.youtube.com/watch?v=JQWQd_Nv_cM
"One of the largest heists in bitcoin history is happening right now. 96,000 bitcoins - that’s roughly £60m as of the time of writing - was taken from the accounts of customers, vendors and administrators of the Sheep Marketplace over the weekend.
Sheep was one of the main sites that came to replace the Silk Road when it closed in October, but it too has now closed as a result of this theft. It’s a little hard to work out exactly what’s happened, but Sheep customers have been piecing it together on reddit’s r/sheepmarketplace.
Here's what happened: someone (or some group) managed to fake the balances in peoples’ accounts on the site, showing that they had their bitcoins in their wallets when they’d actually been transferred out. Over the course of a week the whole site was drained, until the weekend when the site's administrators realised what was happening and shut everything down."
http://www.newstatesman.com/future-proof/2013/12/theres-%C2%A360m-bitcoin-heist-going-down-right-now-and-you-can-watch-real-time
Time to launder some "coin"? ;-)
Turns out that site was well named.
LMFAO!!!!!!!!!!!!!!!!!!!!!!
See, tools, tards, turds, every corner you look.
If you're buying drugs online you've got bigger issues than BitCoin... LOL!!
Karma, it's a female dog.
No kidding...right?...ROTFLMAO!!!
Have you seen the action at their sister site www.youwillloseyourassonbitcoin.com ?
;-)
bit coin, the digital currency, is anything but ,
virtual digital commodity with multiple heads
perhaps? and you can't eat it, regulate it, comprehend
it or access it (for the most part for most people)
so sure! it must be a superior form of Money !
for a superior form of man, aka bullshit and
infertility, infallibility, intangibility,
and infantile
cubed, as other foundation memes of the past
have proved; the best thing since sliced bread
to celebrate the 100th year of the fed, our lard,
lord. the thinnest of membrane stretched, representing
the end of bubble headed worship in the land of religio-
e-CON omics. IS IT ANY WONDER? there are no real jobs
that pay a living wage. wage? what?
.
anyway poems *t
You can be sure those things went through about forty wallets in the subsequent couple of hours.
This is like the Wild West. You don't put your gold in the city bank. Because the only thing protecting it is a drunk sitting on the stool in the lobby.
i played some ball too, baseball.
they say there is a limit to the number of bit coins and
they may or not be cyber secure. there is no limit to the
number of potential crypto currencies however and they can all
be traded or manipulated in futures markets.
some one might see a problem and fraud in this,
maybe not?
.
value and price being based on supply constraints in relation to demand,
real or perceived. so what is the salient principle? further
propagation of control and power in avoidance of truth and honest
work i guess. what a quaint phrase, "honest work".
.
it never works out well ....though no one could have seen it
coming
like a hard slider that ends up in the dirt to end the inning.
Sheep Marketplace was a big heist but the 96k coin figure is incorrect. Analysis of the blockchain sucked in an address from BTC-e but is not part of the theft. (Or so I understand from more recent news)
oh MY gee,
I went to RobberyMart and got robbed!
wookoodaknowed.
So are these european style options? sounds like it. oh well I am still offering 1000 strike calls with size, SIZE I SAY!!
hands out!
Bitcoin is a trial run for a global digital currency, with all that implies for the money masters. The structure of bitcoin is most important to its originators, not the amount of money now flowing through it which can be taken anonymously instantly; therefore, worse than conventional fiat.
Bitcoin is a trial run.
Just my opinion. Game on if you must...
might be. i would compare bitcoin to internet which has great potential to empower people but at the same time serves as an ultimate surveillance platform. what was the initial purpose of internet, one can only guess.
which means that to a large extent it's up to us what will become of internet and of bitcoin even if both were introduced under false pretenses.
Rah, rah, rah... I know everything! You know nothing dumbass! QED.
There is a currency which has survived the fall of every paper currency: gold, and silver sister.
Own it or lose it is the mantra down the ages. Hey ho. People pays their money and takes their chances. The sun still rises in the morning, and it is still a beautiful world for those with eyes to see beyond mere money, in my opinion.
So, if they are not payable in bitcoin, they are ancillary. You have to actually own the bitcoin, virtual as it is, to short them.
I call bullshit.
Create idea is already overtaken by Banksters:
Wake up and Smell the tulips - When will the Bitcoin Bubble burst?
Madness of crowds is presented on the chart above and it is our top pick for the chart of 2013. Erik Steiner has created a very good presentation on Bitcoin: discussing in depth advantages and disadvantages of this particular crypto-currency and why it is now in the Bubble stage. His observations about the possibility that the Ponzi Scheme architecture is created by design in Bitcoin are very intriguing. We will add that recent push of Bitcoin by Bank of America, CITI and Merrill Lynch are not very aligned with the "freedom fighters". It looks more and more that corporate interests are already running it wild if they were not the creators of "Gold 2.0" from the beginning in order to distract 99% from the real values of Gold and Silver. Latest report from China shows that not all the world went crazy these days. http://sufiy.blogspot.co.uk/2013/12/wake-up-and-smell-tulips-when-will.h...
Collateralize them fuckers and warm up the rehypothecators! Yeeehaaaaaaaa!
Man, this place is crawling with seediness and trolls. I first thought fonestar was bad, but magnetic-silverjerk and Exponential Asshat are just shameless fuckwads.
Tylers, stop posting bitcoin articles, please, or, as per the bylaws, make these dribs stand on the porch for three days, at least.
walrus
ate my bitcoins
This is the end
Beautiful friend
This is the end
My only friend, the end
Of our elaborate plans, the end
Of everything that stands, the end
No safety or surprise, the end
I'll never look into your eyes...again
Can you picture what will be
So limitless and free
Desperately in need...of some...stranger's hand
In a...desperate land
Lost in a Roman...wilderness of pain
And all the children are insane
All the children are insane
Waiting for the summer rain, yeah
There's danger on the edge of town
Ride the King's highway, baby
Weird scenes inside the gold mine
Ride the highway west, baby
Ride the snake, ride the snake
To the lake, the ancient lake, baby
The snake is long, seven miles
Ride the snake...he's old, and his skin is cold
The west is the best
The west is the best
Get here, and we'll do the rest
The blue bus is callin' us
The blue bus is callin' us
Driver, where you taken' us
The killer awoke before dawn, he put his boots on
He took a face from the ancient gallery
And he walked on down the hall
He went into the room where his sister lived, and...then he
Paid a visit to his brother, and then he
He walked on down the hall, and
And he came to a door...and he looked inside
Father, yes son, I want to kill you
Mother...I want to...fuck you
C'mon baby, take a chance with us
C'mon baby, take a chance with us
C'mon baby, take a chance with us
And meet me at the back of the blue bus
Doin' a blue rock
On a blue bus
Doin' a blue rock
C'mon, yeah
Kill, kill, kill, kill, kill, kill
This is the end
Beautiful friend
This is the end
My only friend, the end
It hurts to set you free
But you'll never follow me
The end of laughter and soft lies
The end of nights we tried to die
This is the end
Only God can make money, everything else is a ponzie
Ha ha!! Their creativity to fuck naive people is endless!
Bit coin channel
I bought a gyft card for target and then the website said that I need a web-enabled phone to spend it. They don't have Trader Joe's cards.
How can anyone say that there is extreme volatility in the price of bitcoin? There is no justification for such a statement. Bitcoin has a limited supply and a high demand with a small number of owners. Its recent fluctuation was nearly identical in dollar value to the one in April therefore the volatility has been decreasing as the base spreads out.
If Japan or China wish to win all wars they need only adopt bitcoin as their main currency. The power of anonymity of individuals to control their own money was once known in the United States of America. The bankers since then realized the power and have tried to take over the world by controlling the currency. The reason we do not have moral solutions to today's problems is because of bankers and their control over money. Advancements in technology at a rate equal to resolve growing modern problems requires the creativity of those that make up the population. By allowing bankers to control currency we are allowing the world to be destroyed. The same historical process as led to WWII is unfolding globally today. Today's technology is so much greater than during WWII.
We are all doomed if the central bankers are not stopped. Their primitive system is no match for what technology has unleashed.
are you daft?
Any volatility over 10% a day - say 80% a day like bitcoin - is so extreme no one can use it for currency.
I wouldn't touch more than 7% a year by force, 1% a year by CHOICE. YEAR.
Bitcoins amount of move in % , in purchasing power, up or down, in direction as well, has not in any way, shape or form correlated to dollar purchasing power. None. Zip. Nein. Nyet. Not a chance.
The concept of Bitcoins is amazing. However, the fact that their have no instrinsic value and are subject to unlimited barriers to entry, means the whole market is one big ponzi.
The US dollar is backed by the taxing ability of a nation of 350 millions. The comparison is absurd.
350 million bankrupts?
You conveniently overlook the state's taxing authority.
Not to mention total confiscation of our IRA's, pension plans, gold, silver, real estate, livestock, clothing, etc.
350 m on foodstamps. Ill go with the coins before the runs.. like PHS
Easy leverage on BTC... PHS up 45x last month priced in BTC
https://www.cryptsy.com/markets/view/86
..and another chart to watch
This is genius.
I was looking to hedge my Bitcoin bet. Looks like there are now more alternatives to speculate on Bitcoin.
Hedge the btc bet? Close a heavy metal door on your head. That will put you out of your misery.
Derivatives derive their value on the underlying instrument. So its just a zero sum game whereby players are betting with each other about an anticipated movement in Bitcoin, not necessarily trading Bitcoin itself. As long as these contracts are paying in dollars, the only impact on Bitcoin I see is expectations of a future price, hence the outlook of Bitcoin speculators, who look at the contracts to assess their decisions.
investors are not exposed to counterparty risks, like they would be when trading futures on competing services.
ha ha ha ha ha
Bitcoin is just another step down the road to total degeneracy.
No one ever mentions the first and foremost problem with Bitcoin. It's complete and utter dependence on a functioning internet, which is controlled by the people who hate it. If someone mints a silver or gold bitcoin, call me.
Our whole planet has utter dependence on the internet. Get over it man.
no, it doesn't.
I don't.
How come you do?
I depend on farmers, trucks, gasoline, my own feet.
Don't need Internet for any of that. Most of the world isn't on ANY grid, even power grids, much less the Internet.
I think the expression is, 'goes without saying.' Nobody mentions that you need pockets to put all those coins in.
pockets are a lot easier to make & repair than chunks of missing internet - most critically miles of cable disrupted by authorities or bombs.
It's been mentioned many times but all the bit-con cult followers staunchly say teh 1ntern3tz is invulnerable.
haha btc derivatives. Marvellous. Good luck to 'em!
IMO the 300,000k in bitcoins being risked here, is more at risk from the website robbing them/losing them, than the people are from losing them trading.
I won't be going there as I prefer to keep all my btc in my possession, where I can touch them ;)
When I do trade them, it is only ever on btce which has a 2 year track history of being honest (with me).
Cheers and BTFBD bitchez!
P.S all the btc haters on here will of course be going short no? Please feel free to tell us your positions so we can congratulate you profusely when btc goes to zero.
I've never traded puts and calls, but it looks like Predictious stands to lose much more per trade if BTC is over $1400 on 1/1/14 (payout to the punters of 6.51 vs payout of 0). Let's say people eventually place $10M worth of BTC in puts and calls - and a few hours before that date/time, Predictious takes that $10M and sells in one trade to drive the price down. Is that possible? Is my understanding of puts and calls wrong?
Wouldn't that show up on the blockchain? I like the concept so I signed up. It took me a while of study to get the way the trades work, something that wasn't fully explained with the examples.