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Sign Of The Top? Hedge Fund Hiring Junior Bitcoin Execution Trader

Tyler Durden's picture




 

With Bitcoin having almost completed another double off the Dec 17 lows...

 

 

...it is hardly surprising that the fast-money volatility-chasing world of 2-and-20-ers is reaching out for a Bitcoin Execution Trader.

 

(h/t @Besvinick)

 

The San Francisco hedge fund is hiring a "Junior" position, which suggests they already have a "senior" trader who has got tired of trading the digital currency 24 hours a day and is looking to offload the 24x7x365 duties to a lower-level employee with "strong analytic skills" and who is "willing to work odd hours including weekends and late nights/early mornings."

 

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Fri, 01/03/2014 - 09:35 | 4296180 MillionDollarBogus_
MillionDollarBogus_'s picture

Fonestar's dream job..??

Fri, 01/03/2014 - 09:49 | 4296209 GetZeeGold
GetZeeGold's picture

 

 

It's the NSA's dream project.

 

It's almost as good as having an OnStar probe up your wazzo.

Fri, 01/03/2014 - 09:53 | 4296227 ebworthen
ebworthen's picture

"It's almost as good as having an OnStar probe up your wazzo."

Or an iPhone.

Fri, 01/03/2014 - 10:18 | 4296278 fonestar
fonestar's picture

God I love Bitcoin.

Fri, 01/03/2014 - 10:19 | 4296286 GetZeeGold
GetZeeGold's picture

 

 

We're aware.

 

How do you feel about Eric Snowden?

Fri, 01/03/2014 - 10:21 | 4296295 Scarlett
Scarlett's picture

well, bitcoin is 238 times more scarce than 1oz of gold...

Fri, 01/03/2014 - 10:24 | 4296311 GetZeeGold
GetZeeGold's picture

 

 

Heard it on CNBC.......must be true.

Fri, 01/03/2014 - 13:01 | 4296782 outamyeffinway
outamyeffinway's picture

Read in on Zerohedge, must be true.

Fri, 01/03/2014 - 11:00 | 4296425 jekyll island
jekyll island's picture

Scarlett, 

 

While bitcoin is currently more scarce than gold, geologists are searching around the globe for more deposits that would be economical to mine.  Drills are turning 24/7, hell I wouldn't be surprised if someone produced a reality show so everyone could watch.  

Fri, 01/03/2014 - 11:15 | 4296471 fonestar
fonestar's picture

How do you feel about Eric Snowden?

 

Do you mean Edward Snowden?  If he's the real deal then he's a hero for what he did.

Fri, 01/03/2014 - 12:43 | 4296698 DoChenRollingBearing
DoChenRollingBearing's picture

 

 

 

Buen dia everyone.

Would the owner of:

1B8xPxmHwkaAAzULkVLYiNQthXM1DuMEKt

please ID yourself (via my moniker at gmail or comment at my blog -- you can delete the comment I will still get the message via email).  I would like to pay you back and/or open up a dialog.

(I have a guess who you are, but please prove it to me)

(This is only if you want your BTC back or even if you care: 0.05 BTC)

***

Anyone else who knows a lot about the Blockchain and would like to help me with my next article ("Fun with Bitcoins for Beginners: Part Six"), please do the same!

Thank you very much.

Fri, 01/03/2014 - 10:25 | 4296299 jcaz
jcaz's picture

And now you can afford to move out of your parents basement with your new job!    Wonder how they're gonna pay you......

Fri, 01/03/2014 - 11:16 | 4296477 fonestar
fonestar's picture

Do you think early adopters of Bitcoin are living in their parent's basement moron?  They're living it up like you could never imagine.

Fri, 01/03/2014 - 11:23 | 4296512 jcaz
jcaz's picture

That's funny, don't you mean "We're", not "They're"?    You don't even own of of these things, do you?   What a tard.......

Fri, 01/03/2014 - 11:29 | 4296534 fonestar
fonestar's picture

I own several and wish I had more.  You wouldn't even know how to purchase Bitcoin.

People like yourself will be left out of this new era.  Good riddance!

Fri, 01/03/2014 - 11:30 | 4296539 akak
akak's picture

"Mr. Bookworth, you are obsolete.  Obsolete.  Obsolete!"

Fri, 01/03/2014 - 14:03 | 4297045 Exponere Mendaces
Exponere Mendaces's picture

@fonestar

True, its going to be a good year. When bitcoin exceeds Gold Parity and zooms to $3,000+, a lot of lower-tier holders are going to be millionaires. The anti-bitcoin rants really aren't worthy of much in response, are they? I suppose I'll jump in now and then, seems that Wall Street will pick up where we left off, pushing our personal fortunes to the sky.

That's an odd feeling, having the corrupt bastards actually helping you, isn't it?

Damn I love Bitcoin.

Fri, 01/03/2014 - 16:22 | 4297582 JamesBond
JamesBond's picture

i don't have a stake in this game, however, ....

when you use words like, lower-tier holders, you do realize that is the language of a pyramid scheme...

 

 

 

jb

Fri, 01/03/2014 - 10:22 | 4296301 akak
akak's picture

Fonestar, I'm surprised that you didn't say:

"Bitcoin I love Bitcoin!"

Fri, 01/03/2014 - 10:36 | 4296348 TeamDepends
TeamDepends's picture

I pledge allegiance to the Bitcoin, of the United States of Bitcoin.  And to the Bitcoin for which it stands, one nation under Bitcoin, with liberty and Bitcoin for all.

Fri, 01/03/2014 - 10:53 | 4296397 akak
akak's picture

My Bitcoin, which art in cyberspace, hallowed be thy blockchain.  Thy network come, thy adoption be done, on Ebay as it is in Mt. Gox.  Give us this day our daily price bubble, and forgive us our cash transactions, as we forgive those who question thy inevitability, and lead us not into Litecoin, but deliver us from the goldbugs.  Amen.

Fri, 01/03/2014 - 11:01 | 4296432 RSloane
RSloane's picture

Perfect as always, Akak.

Fri, 01/03/2014 - 11:07 | 4296449 akak
akak's picture

Hail Bitcoin, hard to trace, the Satoshi is with thee.  Blessed art thou amongst cybercurrencies, and blessed is the fruit of thy virtual womb, Fonestar.

Holy Bitcoin, mother of cybergeeks, pray for us trendsuckers now and at the hour of our e-savings' death, Amen.

Fri, 01/03/2014 - 10:41 | 4296352 Croesus
Croesus's picture

"It's almost as good as having a FoneStar probe up Satoshi's wazzo"...

Seriously, Fonestar, you need to lay-off the BTC. Get help. There are counselors out there, who'd be happy to talk some sense into you. Fine, Bitcoin is good, and Fonestar loves Bitcoin...but MAN, give it a rest already. 

 

 

 

Fri, 01/03/2014 - 11:18 | 4296483 fonestar
fonestar's picture

BITCOIN!!!!!

Fri, 01/03/2014 - 11:20 | 4296491 akak
akak's picture

No no no!

It's:

"BITCOIN, BITCHEZ!!!!!"

Fri, 01/03/2014 - 11:42 | 4296568 Croesus
Croesus's picture

@ Fonestar: 

P.S. I upvoted your comment...haha!! +1 

Fri, 01/03/2014 - 11:39 | 4296558 13thWarrior
Fri, 01/03/2014 - 11:55 | 4296598 Grinder74
Grinder74's picture

Does "junior" mean 36-24-36?

Fri, 01/03/2014 - 09:38 | 4296183 Sudden Debt
Sudden Debt's picture

They do know they can only buy bitcoins right? Because selling isn't a option in the bitcoin world

Fri, 01/03/2014 - 09:48 | 4296202 One And Only
One And Only's picture

Says the guy who 2 weeks ago was lambasting bitcoin holders after the China induced crash and prognosticating that bitcoin was dead. Bitcoin has doubled since then.

Fri, 01/03/2014 - 09:49 | 4296211 Sudden Debt
Sudden Debt's picture

Plenty of morons to go arround who buy that shit :)

 

Fri, 01/03/2014 - 10:26 | 4296302 Scarlett
Scarlett's picture

They've been saying this since 2010, Sudden Debt.

Fri, 01/03/2014 - 12:15 | 4296664 malikai
malikai's picture

Meanwhile, those of us who are mentally flexible and have open minds have been enjoying a massive wealth transfer towards us.

I'm fine with it.

Fri, 01/03/2014 - 09:50 | 4296215 TheHound73
TheHound73's picture

According to Sudden Debt, buyers get their bitcoins directly from the unicorn.

Fri, 01/03/2014 - 10:11 | 4296263 Sudden Debt
Sudden Debt's picture
Biography
Bitcoin Investor

you moron :) who the hell puts that in his personal info :)

Fri, 01/03/2014 - 10:27 | 4296306 TheHound73
TheHound73's picture

Ah ha ha ha, well, it's true ;)

Fri, 01/03/2014 - 09:48 | 4296219 Herd Redirectio...
Herd Redirection Committee's picture

The site I check has BTC going from 740 -> $815 currently.

Still, if you are trading it, and were somehow able to buy the dip, then you have done well.   Assuming you exit the trade at this moment.

Fri, 01/03/2014 - 09:56 | 4296236 One And Only
One And Only's picture

December 17th was roughly 2 weeks ago and it was in the 400s. It is now almost 900.

Fri, 01/03/2014 - 09:52 | 4296222 Popo
Popo's picture

You're like the guy who calls housing-bears idiots, and presents as evidence, his own shitbox that has tripled in value over the last 5 years.  

No trade is successful until successfully exited.

Fri, 01/03/2014 - 10:01 | 4296242 One And Only
One And Only's picture

Please post my comments that allude to your frivolous allegations.

Fri, 01/03/2014 - 10:03 | 4296253 dick cheneys ghost
dick cheneys ghost's picture

hey, I gots a question...........Can you tell me if any of the Cypto-currencies predate the financial meltdown of 2007/2008?

 

Fri, 01/03/2014 - 10:50 | 4296283 TheHound73
TheHound73's picture

Some prototypes were around, like BMoney.  Bitcoin is the first of what is called Crypto-currencies and Satoshi wrote that he created it as a response to the 2007/2008 meltdowns.  

Today is Bitcoin's official 5th birthday.   The genesis block was mined by Satoshi 5 years ago today and contains the text: 

"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks"

 

Fri, 01/03/2014 - 11:27 | 4296492 fonestar
fonestar's picture

HAPPY BIRTHDAY BITCOIN, EVERYONE ON ZEROHEDGE LOVES YOU!!!!

Fri, 01/03/2014 - 11:35 | 4296542 akak
akak's picture

Too bad that everyone on ZeroHedge thinks you're an asshole.

Fri, 01/03/2014 - 11:59 | 4296613 fonestar
fonestar's picture

Everyone on Zerohedge wants to be a fonestar too.

Fri, 01/03/2014 - 12:18 | 4296673 malikai
malikai's picture

Fonestar's not an asshole. He's and evangelist. There's a difference.

If you want to see an asshole, simply say something stupid and look no further than me.

Fri, 01/03/2014 - 14:10 | 4297086 Exponere Mendaces
Exponere Mendaces's picture

@akak

That's RICH asshole to you, bub.

Don't let it burn your britches too badly, I suppose fonestar or I will take pity and hire you as skeet-shoot practice or something. Can you swim? We might need some bait for our sport-fishing trip.

Fri, 01/03/2014 - 10:25 | 4296300 One And Only
One And Only's picture

There were many contenders before bitcoin but none could solve the problem of double spending. Other similar projects include: e - gold (1996), digital money Trust, ripple, and ven

Fri, 01/03/2014 - 11:17 | 4296488 dick cheneys ghost
dick cheneys ghost's picture

how hard was that to solve??? the double spending?

Fri, 01/03/2014 - 12:12 | 4296583 TheHound73
TheHound73's picture

Very difficult in a trust-less decentralized manner.  For starters, it requires the distributed blockchain ledger.  The problem is trivial to manage for a centralized service like PayPal.

 http://blogs.cornell.edu/info4220/2013/03/29/bitcoin-and-the-double-spending-problem/

 

Fri, 01/03/2014 - 14:06 | 4297056 Exponere Mendaces
Exponere Mendaces's picture

@One And Only

Sudden Debt was a lot funnier during the Greek Crisis. I think he's just worn down having to use the Euro, paying huge VAT on everything from food to imported goods. I'd be cranky too if I lived in the EU clusterfuck.

They'll always pile one, shrieking about how Bitcoin is "dead" and "over". Same old jokes, new twist, rinse and repeat.

We're going to exceed Gold Parity this year, I'm certain. Just like I was sure we'd have another exponential run to break it last year.

Don't let them get you down, even modest holders will be sitting on a huge store of wealth when we exceed our prior highs.

Happy New Year to you!

Fri, 01/03/2014 - 13:05 | 4296799 outamyeffinway
outamyeffinway's picture

Selling is not an option? WTF are you talking about? Your hatred is making you ignorant. Kind of sad to witness.

Fri, 01/03/2014 - 09:45 | 4296194 Debugas
Debugas's picture

how many people own half of the bitcoins ?

why would I want to buy into a currency owned by 1000 individuals ? To make them richest people in the world? Sorry i'd better go for a currency not yet owned by anybody

 

BTW the same is true about gold. If too few people control most of the action in a given asset then the rest of the world will be more likely to move away from it and find anopther asset to play with

Hence we have got the whole range of assets and wealth distributed among all of them

Fri, 01/03/2014 - 09:49 | 4296208 TheHound73
TheHound73's picture

Ah, the fresh smell of free market in the morning.

Fri, 01/03/2014 - 09:46 | 4296197 gwar5
gwar5's picture

BTFD. 

PTB will totally coopt Bitcoin but looking like it's here to stay and good until then. When the NSA completes the evil genius lair equipped with their fantasy quantum computer for world domination all your shit is belong to them.

 

Fri, 01/03/2014 - 09:44 | 4296199 Stoploss
Stoploss's picture

"and must be comfortable working with uncertainty"

 

24/7/365

 

No mention of stress levels.

My, how job descriptions have changed..

Fri, 01/03/2014 - 09:52 | 4296225 GetZeeGold
GetZeeGold's picture

 

 

You've been assigned account 21214.......good luck.

Fri, 01/03/2014 - 09:48 | 4296206 Sudden Debt
Sudden Debt's picture

CHINESE TOP:

Changsha building will be the largest in the world and will be finished by the end of the year.

 

The largest skyscraper always calls in a top

Fri, 01/03/2014 - 09:50 | 4296217 ebworthen
ebworthen's picture

So I woke up early and was curious and looked into Bitcoin mining this morning.

Most of the sites and links of information were dated 2011 and had not been updated.

I went to the mining calculator and found that my six-core desktop with an ATI HD 2GB video card would make .04 cents for every .36 cents I spent in electricity.

So yes, the crryptocurrency has entered the speculative bubble phase now that the small individual players have been priced out.

Just wait until Wall Street gets their high end servers and direct connections hashing block-chains while hawking 3X up/down ETF's and selling BBS (Bitcoin Backed Seurities); hoo-boy.

Fri, 01/03/2014 - 10:06 | 4296249 tip e. canoe
tip e. canoe's picture

would make .04 cents for every .36 cents I spent in electricity.

regardless of the intention of the creator(s), he/they/IT never acknowledged this salient fact during the design.   or maybe he/they/IT did.

maybe we should start calling BC a FUKU-dollar, because once it gets close to mining the final coin, you're gonna need a nuclear reactor to power the rig.   or a HAARP array.

Fri, 01/03/2014 - 10:19 | 4296290 greenbear
greenbear's picture

All he's managed to prove is that his rig is obsolete or his power costs are too high.  Obviously someone somewhere, iceland perhaps, finds it profitable to mine or they wouldn't be doing it.  It's called a free market.  Check it out some time.

The Bitcoin Channel

Fri, 01/03/2014 - 10:27 | 4296319 adr
adr's picture

And they are using more power than supercomputers modelling nuclear explosions and combing the cosmos.

 Kind of a waste if you ask me. Iceland also has geothermal power plants that produce very cheap electricity.

People always talk about return on energy invested, Bitcoin is terrible in that regard. The only thing keeping Bitcoin mining going is the hope a single Bitcoin goes to $1 million.

Fri, 01/03/2014 - 12:43 | 4296739 PT
PT's picture

Sure it's a huge waste of energy.  But digging gold out of the ground is also a huge waste of energy plus it uses dangerous chemicals and can cause terrible pollution and environmental damage.  Would you say that gold is useless because once the yield gets down to 2 grams per tonne, only the big boys can get to it?  (Or do you still go panning at 2 grams per tonne?)

Why can't we just trade pieces of paper that say, for instance, "This token represents one of the 24 hours (over 3 days ) PT spent sorting angle iron for the salvage yard.  It was hard work."  or "J6P filled 6000 bottles with detergent for XYZ Co.  He worked fast and it took him 6 hours".  "Jane 6P cleaned 4000m2 of offices in 40 hours.  This token represents one of those 40 hours."
"These people served society this week therefore they deserve to be fed and clothed this week."  I know this idea is impractical, which is a shame.  Money is supposed to be proof that you did someone a favour, contributed to production and are therefore worth some of the fruits of that production. 

"This token represents one of the 60 hours of "labour" of Mr Corzdimon.  Such "labour" consisted of him having lunch and encouraging bankers to lend money to people who have no way of paying it back.  Other parts of the "labour" involved convincing the Fed to buy his bad debt so he can continue lending money to people who cannot pay it back and then repossess their property.  This set of tokens represent the labour Mr Dimoncorz used to pretend that 1.6 billion units of labour that were performed by a certain group of people were actually performed by other people."
Try using that one to pay the bill at the restaurant.

Sorry, I went off to a rambling fantasy land for a minute just then.  I'm back now. 

Fri, 01/03/2014 - 10:49 | 4296376 tip e. canoe
tip e. canoe's picture

sorry, a market that depends on a predominantly centralized & tightly controlled market (outside of an extremely few number of fortunate individuals) for its very creation and security is not a free market until the market that it owes its livelihood to is also free.   decentralize energy and perhaps the game changes, but if that happens, BC will most definitely not be the only dragonslayer on the block.

pimp and play as you wish, but if you choose to call it something it isn't by its very design, be prepared for others to call bullshit.

 

Fri, 01/03/2014 - 10:57 | 4296404 TheHound73
TheHound73's picture

Therefore, Restauranteering cannot be a free market because most restaurants rely on the power company.  T-Shirt manufacturing cannot be a free market because they, too, rely on the power company.

Fri, 01/03/2014 - 11:22 | 4296482 tip e. canoe
tip e. canoe's picture

one could make that argument, but then one could be considered guilty of using logic to twist the argument to an illogical extreme and thus away from where the debate should be focused.   besides, restaurants & t-shirts are a far step away from currency creation, which is the blood of which an entire economy functions.

any currency or money that requires an exponentially increasing amount of energy consumption for it to continue to function is, by the very definition, un-economic.   

if you wish to directly counter that argument and not beat around the bush like all BC defenders seem to do when confronted with this issue, then i'm all ears.

Fri, 01/03/2014 - 11:35 | 4296546 TheHound73
TheHound73's picture

Bitcoin does not require exponentially increasing amounts of energy.  It does, however, require 100% more computational power than an (hypothetical) attacker.  If that attacker is a superpower, then so be it.

Individuals around the globe are making their own independant decisions to use electricity and computational power to secure the bitcoin network. For that effort they are rewarded with BTC currency.

In contrast, how much energy is used for Bank and Visa Card servers, ATMs, armored trucks driving around, construction, lighting and heating of bank buildings, etc?

Fri, 01/03/2014 - 12:19 | 4296676 ebworthen
ebworthen's picture

And they need Silver to build all that computational power ;-)

Fri, 01/03/2014 - 12:52 | 4296742 tip e. canoe
tip e. canoe's picture

how much energy is used for Bank and Visa Card servers, etc?

have seen this point of rebuttal elsewhere on here.   it implies the assumption that the argument i'm making is in defense of the centralized banking system/paper money.   maybe valid on PuffHo, etc., but on this site (save for trolls), and in this specific case, 'tis a most fallacious one (a/k/a more beating around the bush shit) and not worth the energy to respond beyond this paragraph.   sorry, but tip don't play dat.

Bitcoin does not require exponentially increasing amounts of energy.  It does, however, require 100% more computational power than an (hypothetical) attacker.  If that attacker is a superpower, then so be it.

ok now we're going somewhere.   if the following are correct for BC to function properly:

BC MoB PROCESSING POWER = 2 x PP (MOST POWERFUL ATTACKER)

ELECTRIC CONSUMPTION = PP / COMPUTING EFFICIENCY

and MOST POWERFUL ATTACKER = SUPERPOWER with a purported technology (a/k/a quantum computing) that may expontentially increase their EFFICIENCY (on top of a superior ability to access enormous amounts of electricity to consume at will).

how does BC MoB generate the PP needed without expontentially increasing their EC?

Fri, 01/03/2014 - 20:33 | 4298325 TheHound73
TheHound73's picture

Aye, well the full parameters are not known.  The good news is Bitcoin currently appears to be protected from all but the largest actors.  Freedom isn't free.

Fri, 01/03/2014 - 10:04 | 4296256 Sudden Debt
Sudden Debt's picture

Now we know why the NSA is building that quantum computer to "decode"...

Fri, 01/03/2014 - 10:11 | 4296265 GetZeeGold
GetZeeGold's picture

 

 

Hopefully they'll miscalculate and the whole agency will just disappear into a different dimension.

 

Here's a hint.....watch that particle closely or it will turn into a wave of light.....AND.....the walrus was Paul.

 

Fri, 01/03/2014 - 10:24 | 4296294 adr
adr's picture

Did you miss the news story of the world's strongest encryption being broken using a cell phone microphone? 

It isn't entirely practical, but a recording of the sound the computer makes while encrypting the data is enough to break the encryption later. Essentially the computer makes different sounds when the real data is being processed vs the superfluous information added. That is enough to work as a decryption key.

Fri, 01/03/2014 - 10:50 | 4296381 tip e. canoe
tip e. canoe's picture

interesting.   do you have any links to share on this adr?

Fri, 01/03/2014 - 11:10 | 4296459 TheHound73
TheHound73's picture

http://www.extremetech.com/extreme/173108-researchers-crack-the-worlds-t...

"If you’re a secret agent, power user, or some other kind of encryption-using miscreant, you may want to reach for the Rammstein when decrypting your data."

Fri, 01/03/2014 - 11:17 | 4296494 tip e. canoe
tip e. canoe's picture

thanks man.   

though i prefer techno, jazz & classical :)

Fri, 01/03/2014 - 11:03 | 4296439 IridiumRebel
IridiumRebel's picture

Mute button?

Fri, 01/03/2014 - 11:06 | 4296444 Sudden Debt
Sudden Debt's picture

I'd like to read that to!

Fri, 01/03/2014 - 10:36 | 4296344 AGAU
AGAU's picture

You could argue that because the cost of mining and difficulty is increasing, bitcoin is actually undervalued and the miners will be reluctant to sell their coin too cheaply. A graphics card would have done the job a couple of years ago, don't forget the waste heat goes to heating your house. My 60GH/s machine definitely takes the chill out of my house. The new 26nm asics will increase mining difficulty by an order of magnitude but you're right, if the price of BTC went back to $100 I would turn off my machine.

Fri, 01/03/2014 - 10:46 | 4296369 Hulk
Hulk's picture

come on man, bypass your meter and your in the green !!! Get with the times !!!

Fri, 01/03/2014 - 10:58 | 4296412 rubiconsolutions
rubiconsolutions's picture

"Just wait until Wall Street gets their high end servers and direct connections hashing block-chains while hawking 3X up/down ETF's and selling BBS (Bitcoin Backed Seurities); hoo-boy."

Better yet, wait until the NSA and their proxies like Google, Amazon and Facebook turn their servers loose on BTC if they haven't already. And the FBI is in the game too. Besides, the total market cap (as of 12/30/13) for all crypto currencies is only $13 Billion. I'm underwhelmed by the whole thing.

Fri, 01/03/2014 - 11:06 | 4296431 Mine Is Bigger
Mine Is Bigger's picture

I think you have it backward.  I mean making just 0.4 cents for every .36 cents spent on electricity suggests Bitcoin is sharply undervalued.

Fri, 01/03/2014 - 11:20 | 4296504 tip e. canoe
tip e. canoe's picture

that's exactly what it means.    now, just consider the implications of what that means when a pack of wolves & vultures with access to capital discover that fact.  

fuckers win again, same as it ever was.

Fri, 01/03/2014 - 09:54 | 4296232 NoDebt
NoDebt's picture

I like how they have to describe what BitCoin is in the job description.  Like "Oh, so that's what BitCoin is!  Yeah, I think I could do that job."

Fri, 01/03/2014 - 10:01 | 4296248 firstdivision
firstdivision's picture

I'm going to start playing Farmville, so that I can sell some virtural tulips for BitCoins.

Fri, 01/03/2014 - 10:12 | 4296274 tarsubil
tarsubil's picture

You got the job? Congrats!

Fri, 01/03/2014 - 10:12 | 4296272 adr
adr's picture

Doesn't matter what the price is if you can't buy in. None of my banks will allow me to make a transfer to a Bitcoin exchange. Sure I can pay $740 to take a flight to use the Bitcoin ATM, not really convenient. I could use local Bitcoin to try and find someone who will trade me a supposed legitimate Bitcoin for cash, some really great online anonymous virtual curreny there.

Or maybe I can buy $20k of computer hardware that will be outdated by the time it ships to me. There are the hashing collectives where the Bitcoin are shared. Whoo after a few weeks I can receive .001 Bitcoin.

Not really easy, not really convenient, and not really anonymous.

Fri, 01/03/2014 - 10:24 | 4296296 RaceToTheBottom
RaceToTheBottom's picture

"None of my banks will allow me to make a transfer to a Bitcoin exchange."

You need new banks.  Who the frig are they to restrict where you Xfer money.  Mine allow it

Fri, 01/03/2014 - 10:24 | 4296297 TheHound73
TheHound73's picture

Your banks are just looking out for your own welfare.  Thank you, Banks!  Starting a Bitcoin exchange on U.S. soil is a death wish.  

Fri, 01/03/2014 - 13:47 | 4296991 Fail2Deliver
Fail2Deliver's picture

Try Coinbase.com easy to setup and trade

Fri, 01/03/2014 - 10:18 | 4296285 pavman
pavman's picture

Dec 17 was kind of the bottom in stocks and possibly gold as well.  I watched it all in horror (not to worry, all US exchanges look to be grossly overbought).

Fri, 01/03/2014 - 10:22 | 4296291 RaceToTheBottom
RaceToTheBottom's picture

For every JPM puke working this gig, there are three NSA pukes working this gig.

Fri, 01/03/2014 - 10:29 | 4296316 GetZeeGold
GetZeeGold's picture

 

 

Sounds like it's time for Thunderdome.

Fri, 01/03/2014 - 10:29 | 4296327 Musashi Miyamoto
Musashi Miyamoto's picture

I've got my hopes that they will make at least one alt-coin illegal and free of these scum bags.

Fri, 01/03/2014 - 10:49 | 4296378 Martel
Martel's picture

Sign Of The Top?

You wish. More likely a sign of growing market acceptance.

Fri, 01/03/2014 - 11:40 | 4296553 akak
akak's picture

Let me know when Bitcoin reaches the same share of market acceptance that was achieved by Pet Rocks in 1975 or Cabbage Patch Dolls in 1984 or Beanie Babies in 2003.  I'll be waiting.

Fri, 01/03/2014 - 13:50 | 4296980 ebworthen
ebworthen's picture

Did you hear about the couple that spent their kid's college funds buying Beanie Babies speculating that in the present they would be worth twice as much?

Yeah, like that, their kids are going to the Community College and/or had to take out loans.

$100,000 worth of Beanie Babies; original, limited edition, genuine articles.

For some reason the Beanie Babies aren't worth that much anymore.

OOPS.

http://www.dailymail.co.uk/news/article-2377645/Family-goes-bankrupt-blowing-100-000-savings-Beanie-Babies-thought-valuable.html

Fri, 01/03/2014 - 13:55 | 4297013 akak
akak's picture

Those are some Darwin Award contenders there for sure!

Fri, 01/03/2014 - 19:26 | 4298148 Martel
Martel's picture

I'll be waiting.

Don't hold your breath, as the moment already went by. Bitcoin market value is currently 10,7 billion USD. Your toys likely sold only a fraction of that. Let me know when you beam your gold ingot to another continent in 30 minutes at no cost. That's how long it takes to transfer bitcoin securely from acct. to acct.

Bitcoin isn't forever, but I'm happy to ride it until it loses steam. I don't have high hopes for my physical gold, though. Too easy to control by the governments.

Fri, 01/03/2014 - 10:48 | 4296386 q99x2
q99x2's picture

I meet the qualifications.

Fri, 01/03/2014 - 10:52 | 4296401 Gandalf6900
Gandalf6900's picture

Happy Bitcoin to all who where 'moron' enough to grab some at $500

There it goes again!

 

 

Fri, 01/03/2014 - 11:04 | 4296429 DougKass
DougKass's picture

Well speaking about Bitcoin and crypto currencies, there's now a ZeroHedgeCoin  -  http://www.zerohedgecoin.com/

Here's the discussion on the topic:  https://bitcointalk.org/index.php?topic=393930.0

Fri, 01/03/2014 - 14:10 | 4297073 Exponere Mendaces
Exponere Mendaces's picture

Ahahaha ZeroCoin!

The only crypto-coin that devalues at the rate of Fed Monetization. Now that's a snarky shot across the bow if I ever saw one.

I think I'll wait for the price to go lower, there's still a lot more POMO to come :)

Fri, 01/03/2014 - 11:30 | 4296524 q99x2
q99x2's picture

I woke up this bitcoin morning and got a bitcoin cup of coffe. Looked at my bitcoin self in the bitcoin mirror. Ran a bitcoin comb through my bitcoin hair and washed my bitcoin teeth. I bitcoin bet you my bitcoin wife will bitcoin my bitcoin bitcoin bitcoin bitcoin before I leave for my bitcoin place of work.

Fri, 01/03/2014 - 11:50 | 4296586 BuddyEffed
BuddyEffed's picture

With the recent revelation on the NSA's capabilities regarding encryption, does it make you wonder how safe bitcoin really is?   Another amusing musing and consideration :  In a grid down scenario, is there any value in crypto currency?  And as for that matter is there any real value in paper currencies as well?  Let's hope the current business/economic and social models aren't changing much in the coming years and decades.

Fri, 01/03/2014 - 13:38 | 4296964 ebworthen
Fri, 01/03/2014 - 12:05 | 4296619 Clowns on Acid
Clowns on Acid's picture

Seems to me that this "Hedge Fund" is just looking for some techn dweeb / believer to come in and play BitCoin. The questions below belie what the Fund is actually looking to define.

 Under "Responsibilities" listed is:

  • Execute trades on Exchange and with private parties. How does one execute w/ private parties without using an Exchange?
  • Same day settlement for all excahnge trades and all private transactions? Does this happen? I don't think so. All Excahnges are different for settlement times and how does one "setlle" a private transaction?
  • What documentation is signed with Exchanges regarding settlement and clearing? I am sure that Hedge Fund investors would love to know. Private transactions ? What settlement terms / processes are involved there?

 

 

 

Fri, 01/03/2014 - 12:20 | 4296671 TheHound73
TheHound73's picture

Before the exchanges were setup, all Bitcoin sales were between private parties.  The mechanics are much like a private sale of gold.

Fri, 01/03/2014 - 13:23 | 4296889 Clowns on Acid
Clowns on Acid's picture

Hound - Simple response from me is "No its not".

If you can, please decribe the steps one takes in transferring your BitCoin to me in a private transaction. Thanks.  

Fri, 01/03/2014 - 14:19 | 4297099 Non Passaran
Non Passaran's picture

???
Okay genius I'll try.
You give me your address, I send you the Bitcoins.
You send me the money.

In more elaborate setup we use escrow.

Fri, 01/03/2014 - 13:06 | 4296805 czarangelus
czarangelus's picture

Bitcoin. Still retarded. Still requires a massive infrastructure of computers and electricity that simply might not be there one day. Gold and silver aren't going anywhere.

Fri, 01/03/2014 - 15:34 | 4297399 Sufiy
Sufiy's picture


After The Crash: The Future of Bitcoin and Math Based Digital Currencies


  The video in the beginning of this discussion is the great explanation of the Bitcoin. And history of Crypto-currencies development is nothing less than fascinating. But there is the progress and there is an idea to get rich overnight. These are too very different things.    We have the feeling that this entry will be at the right timing again. There is always another crash coming to Bitcoin. It is not the question of the technological advance presented by Bitcoin, but it is the nature of its created Bubble.    After our last entry Bitcoin has recovered from low of 2011 to the 4742 at BTCChina. Now another shake out could be coming - the volume is going down dramatically as Bitcoin price is moving up. By the end of January China's ban on currency withdrawal will be in place. You can make your call when the next wave of selling will begin. It is quite interesting that Gold price is moving strongly up last few days with the new money being allocated to Gold. China encourages its citizens to accumulate gold and bans Bitcoin for its financial institutions. Will 2014 become the year of Great Rotation from Bubbles and into the real assets? http://sufiy.blogspot.co.uk/2014/01/after-crash-future-of-bitcoin-and-ma...

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