Bitcoin's and the future of online banking - Page 16

its 14$ in my country/bank of choice for any ammount

BTC is largely superior to any form of money transfer once people start using it.

For example if I own money to my cousin in argentina it is much easier to send him bitcoin than any amount of cash. Ofc if you buy bitcoins just to then trade them back to another currency then it is not at all practical.

Now most of my friends are into bitcons so it is super convenient to settle debts or pay each other for stuff.

can you transfer fractional amounts?

^ye, isnt it divisible by up to 8 decimal places iirc?

Emi - saw ur reply to me earlier and now i remember it was u who posted about that incident here a while ago. really brutal, sorry to hear

How is your bitcoin options betting site going?

bitcoin real-time exchange shows people buying for like. 0.0000141 all day. In fact I wonder if anybody has considered developing trading software to execute millions of micro transactions like this all day. There are/were stock companies that did this. Why wait for that one big stock when you can just trade millions of penny stocks all day long.

Is it possible to do exchange arbitrage? Mtgox spread is between 1215, btc-e spread is between 1010. If I could buy coins on btc-e, then sell them on mtgox... Then again, wouldn't any financial firm be exploiting the fuck out of that right now?

You could buy on one exchange and sell on the other. I guess this is what you mean by arbitrage / spread trading.
I highly doubt what you are suggesting is doable. If it is then free money. Supposedly extremely difficult for stocks.

It probably is possible once in a blue moon but the time to get funds on and off the different exchanges, availability of coins and then all the fees that everyone charges at each step of the process makes it very difficult from what I can tell. You probably need huge volume to make it profitable, which any of the crypto's don't have. Probably need a significant amount of capital on each exchange as well and there is no way they are trustworthy enough to do that atm (despite what advocates of <insert exchange name> would have you believe). So quite high risk is involved.

On November 29 2013 09:54 Funktion wrote: Show nested quote + On November 29 2013 05:29 Baalim wrote: I cant say with 100% certanty that a black hole wont destroy the earth tomorrow... but im pretty sure it wont, same as Bitcoins, im pretty sure this is a bubble and i think anybody with a clue knows that too, what is unknown for almost everyone is how big it will be before it bursts, these prices are artifically inflated by people like us rushing to buy some bitcoins to make a quick buck, then the mass selling will begin and thus the crash. What makes you "pretty sure"?

velocity of its price raise without any meaningful change besides percieved value.

Are you trying to say this is not a bubble?

http://news.sky.com/story/1175103/bitcoin-blunder-man-throws-away-4m-laptop

Winna !!!!

On November 29 2013 14:02 Ket wrote: ^ye, isnt it divisible by up to 8 decimal places iirc? Emi - saw ur reply to me earlier and now i remember it was u who posted about that incident here a while ago. really brutal, sorry to hear How is your bitcoin options betting site going?

Yeah it was me When I saw genjix was a poster on my lurking poker website I just could not resist..

Regarding www.btcoracle.com , we are loosing a lot of money actually but are rather optimist. We are well funded (by ourselves ^^) and the volume keeps going up, giving us lots of hope for the future !

Binary Options is actually a super hard business if you do it in a honnest way with fair odds and honnest marketing. It is super easy if you do it like our $ counterpart where they tell you you'll be winnings like a trader without any knowledge and they give you a 1:1.3 odds on "will the price will be up by 50% in 3 days ?" which is fucking ridiculous.

If you do it fairly, every odds you give that is slighly EV+ gets exploited insanely by some players. Also, they get better with the time and tends to automated winnings system. But it's all good fun to create a compagny and see it grow

On November 30 2013 00:51 Baalim wrote: Show nested quote + On November 29 2013 09:54 Funktion wrote:   On November 29 2013 05:29 Baalim wrote: I cant say with 100% certanty that a black hole wont destroy the earth tomorrow... but im pretty sure it wont, same as Bitcoins, im pretty sure this is a bubble and i think anybody with a clue knows that too, what is unknown for almost everyone is how big it will be before it bursts, these prices are artifically inflated by people like us rushing to buy some bitcoins to make a quick buck, then the mass selling will begin and thus the crash. What makes you "pretty sure"? velocity of its price raise without any meaningful change besides percieved value. Are you trying to say this is not a bubble?

I'm saying I don't know if it's a bubble because there are too many unknowns. It's new (relatively speaking) and you don't know how it's meant to behave, or rather the market. Rapid price rise isn't a suitable enough indicator alone to categorically state it's a bubble. Especially when you haven't answered what you think a suitable value is and how you have determined that value. But don't get me wrong this also applies to people who are certain it's not a bubble. I have seen no adequate proof from either side to make me think one way or the other.

It's assumed that early adopters will get out, dumping all their coins. However it occurs to me that in reading the motives behind those early adopters they believe it's the future. This means they don't want to dump their coins, they want to use those coins in the future, or fractions of their coins as the value rises to make purchases etc.

Quarkcoins getting a lot of buzz today. It's said that quarks are the fastest to go through for all digital currencies. I guess you can only buy them with BTC, though.

God damn these fucking random ass coins bubbling up like no other.

On November 30 2013 03:34 Emi wrote: Show nested quote + On November 29 2013 14:02 Ket wrote: ^ye, isnt it divisible by up to 8 decimal places iirc? Emi - saw ur reply to me earlier and now i remember it was u who posted about that incident here a while ago. really brutal, sorry to hear How is your bitcoin options betting site going? Yeah it was me When I saw genjix was a poster on my lurking poker website I just could not resist.. Regarding www.btcoracle.com , we are loosing a lot of money actually but are rather optimist. We are well funded (by ourselves ^^) and the volume keeps going up, giving us lots of hope for the future ! Binary Options is actually a super hard business if you do it in a honnest way with fair odds and honnest marketing. It is super easy if you do it like our $ counterpart where they tell you you'll be winnings like a trader without any knowledge and they give you a 1:1.3 odds on "will the price will be up by 50% in 3 days ?" which is fucking ridiculous. If you do it fairly, every odds you give that is slighly EV+ gets exploited insanely by some players. Also, they get better with the time and tends to automated winnings system. But it's all good fun to create a compagny and see it grow

Binary options in btc sounds like a an awesome idea if your purpose is to get fucked. So you excuse your shitty odds by being fair and "honnest"? L o L . what a joke. Just come out and say you are neck deep in shit because the bitcoin doesn't apply to any rules and can is fucking you with volatility. How do you come up with which odds are "fair", "honnest," or "greedy" ? If i recall you exercise averaging and i'd guess this is how you do business aswell. If it was a legitimate concern i don't think you would advocate it. Sorry but i have no compassion. Take your profits/losses and walk away.

On November 30 2013 07:15 Funktion wrote: Show nested quote + On November 30 2013 00:51 Baalim wrote:   On November 29 2013 09:54 Funktion wrote:   On November 29 2013 05:29 Baalim wrote: I cant say with 100% certanty that a black hole wont destroy the earth tomorrow... but im pretty sure it wont, same as Bitcoins, im pretty sure this is a bubble and i think anybody with a clue knows that too, what is unknown for almost everyone is how big it will be before it bursts, these prices are artifically inflated by people like us rushing to buy some bitcoins to make a quick buck, then the mass selling will begin and thus the crash. What makes you "pretty sure"? velocity of its price raise without any meaningful change besides percieved value. Are you trying to say this is not a bubble? I'm saying I don't know if it's a bubble because there are too many unknowns. It's new (relatively speaking) and you don't know how it's meant to behave, or rather the market. Rapid price rise isn't a suitable enough indicator alone to categorically state it's a bubble. Especially when you haven't answered what you think a suitable value is and how you have determined that value. But don't get me wrong this also applies to people who are certain it's not a bubble. I have seen no adequate proof from either side to make me think one way or the other. It's assumed that early adopters will get out, dumping all their coins. However it occurs to me that in reading the motives behind those early adopters they believe it's the future. This means they don't want to dump their coins, they want to use those coins in the future, or fractions of their coins as the value rises to make purchases etc.

I echo Baals post that you don't need to know what the fuck is going on when you are offered a godly return on investment you just take it. You just do. Bubble, potential to shoot higher, black holes destroying earth - none of it matters. Money in your pocket does. If the gains are substantial to better your quality of life (e.g. if you have a good amount of bitcoins) you just take it. If you have one bitcoin then rub it every night hoping for the insanely improbable, a black swan, to happen.

On December 01 2013 11:00 cariadon wrote: I echo Baals post that you don't need to know what the fuck is going on when you are offered a godly return on investment you just take it. You just do. Bubble, potential to shoot higher, black holes destroying earth - none of it matters. Money in your pocket does. If the gains are substantial to better your quality of life (e.g. if you have a good amount of bitcoins) you just take it. If you have one bitcoin then rub it every night hoping for the insanely improbable, a black swan, to happen.

I don't really know what point you are addressing with this?

On December 01 2013 10:55 cariadon wrote: Show nested quote + On November 30 2013 03:34 Emi wrote:   On November 29 2013 14:02 Ket wrote: ^ye, isnt it divisible by up to 8 decimal places iirc? Emi - saw ur reply to me earlier and now i remember it was u who posted about that incident here a while ago. really brutal, sorry to hear How is your bitcoin options betting site going? Yeah it was me When I saw genjix was a poster on my lurking poker website I just could not resist.. Regarding www.btcoracle.com , we are loosing a lot of money actually but are rather optimist. We are well funded (by ourselves ^^) and the volume keeps going up, giving us lots of hope for the future ! Binary Options is actually a super hard business if you do it in a honnest way with fair odds and honnest marketing. It is super easy if you do it like our $ counterpart where they tell you you'll be winnings like a trader without any knowledge and they give you a 1:1.3 odds on "will the price will be up by 50% in 3 days ?" which is fucking ridiculous. If you do it fairly, every odds you give that is slighly EV+ gets exploited insanely by some players. Also, they get better with the time and tends to automated winnings system. But it's all good fun to create a compagny and see it grow Binary options in btc sounds like a an awesome idea if your purpose is to get fucked. So you excuse your shitty odds by being fair and "honnest"? L o L . what a joke. Just come out and say you are neck deep in shit because the bitcoin doesn't apply to any rules and can is fucking you with volatility. How do you come up with which odds are "fair", "honnest," or "greedy" ? If i recall you exercise averaging and i'd guess this is how you do business aswell. If it was a legitimate concern i don't think you would advocate it. Sorry but i have no compassion. Take your profits/losses and walk away.

Just check any other "binary options website" and you'll see that you get 1.5 multiplier for a bet on "will btc /usd will rise by 50% in 3 days" so saying our odds are shitty is just retaded. Check any of the top players and you'll see 70%+ winrate on hundreds of bets.
The fact that our historical ROI for players is around 102% should be enough to tell you that we been fair. I am not trying to get compassion anyway, since we are really satisfied with the business and confident on the math behind.

Anyway, I dont understand what the fuck you are trying to talk about but obviously you have no clue.

nevermind.

Binary bitcoins scheme.

Do you allow shorting bitcoins Emi ?

Recent developments in bitcoin.

http://www.bloomberg.com/news/2013-12-05/bitcoin-boom-spreads-to-iphones-with-mobile-payment-apps-tech.html
http://www.bloomberg.com/news/2013-12-05/china-said-to-consider-bitcoin-regulations-after-investor-losses.html

It was funny, when the chinese news hit first, everyone was saying it was a ban on bitcoins. Gotta love an unregulated market.