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marGinTale


Total Posts: 11
Joined: Jul 2007
 
Posted: 2013-11-18 14:49
@NeroTulip

Checkout:
http://bitcoin.stackexchange.com/questions/12670/why-dont-people-buy-at-one-exchange-and-sell-at-another

Also, transferring funds in form of bitcoins from one exchange to another is typically costless.


ast4


Total Posts: 390
Joined: Aug 2007
 
Posted: 2013-11-18 17:06
marGinTale, any color on the futures exchanges?

It seems like pretty basic stuff works there too, but didn't get a chance to work numbers post transaction cost.

"Mathematicians are machines for turning coffee into theorems!"

Praetorian


Total Posts: 222
Joined: Apr 2009
 
Posted: 2013-11-18 21:35
ok Steve I bought this bitcoin right now. What now? Seems that I have to wait a few days for this coin to materialise in my online wallet. If I make a loss on this, you owe me beer. Bigtime!

ralph


Total Posts: 13
Joined: Jun 2011
 
Posted: 2013-11-18 23:58
I'm only vaguely familiar with Bitcoin, but some of the ads on the sides of this chart of realtime market data from MtGox are advertising exchanges for BTC futures trading, exchanges that give interest on your deposits, and other BTC sites of note: http://bitcoin.clarkmoody.com/

“Ruug caddaagii soo rogaalceli!”

jslade


Total Posts: 1089
Joined: Feb 2007
 
Posted: 2013-11-19 01:45
"This market seems pretty fragmented - and there sure is no reg NMS here... At the moment, 1 Bitcoin seems to be USD 599 on Mt.Gox, and USD 522 on Bitstamp. It can't be that much out of whack, can it? If that is indeed the case, what is required to do the arb? "

Mt Gox is where the volume is. The other ones are lagging because of lack of volume. And ability of Mt Gox to feed a BBO.

I don't know if these guys ever found their butt, but when I was looking back in April, they seemed to have their shit together best:
https://www.bitfinex.com/

"Learning, n. The kind of ignorance distinguishing the studious."

Steve Castle


Total Posts: 306
Joined: Sep 2010
 
Posted: 2013-11-19 02:20
I bet there will be a massive selloff at 1K. just topped at 900 for a few secs before being blasted down.

This is just too much fun though. I'm going to hold for the rest of this week.

Praetorian: Will gladly get you a beer win or lose. I have a feeling the action at USD1k/BTC will be unbareable.





in the words of one such quant ‘were on the whole either less quanted or not quanted at all’.

Luciender


Total Posts: 73
Joined: Aug 2008
 
Posted: 2013-11-19 15:30
I could see Bitcoins, or something like Bitcoins, serving a useful purpose in developing countries with capital controls or high inflation. There have been comparable schemes which took off, for example the mobilepoint payment system in Kenia or QQs in China(has been more or less shut down by the govt now). Or probably for underbanked countries in general.

But with daily price swings of +-40% its probably not really a viable medium of exchange, let alone a viable store of value.

AndyM


Total Posts: 2316
Joined: Mar 2004
 
Posted: 2013-11-20 08:33
{hmmm IMHO this thread has a mostly wmot-level signal to noise ratio}
Dude, take your nine posts and your patronising attitude, and go fuck yourself - is that Wmot enough for you?

Reading this thread kind of confirms my view that the purpose of Bitcoin is to separate anarcho-capitalist nerds from their money. Yeah, OK, you got in at 20c, and are riding it like a boss, but in aggregate, that can't be the case. Where is all the money coming from?

I used to be disgusted; now I try to be amused...

Cheng


Total Posts: 2833
Joined: Feb 2005
 
Posted: 2013-11-20 08:49
Has anyone lately tried to convert a non-significant amount of bitcoins (ie > 1) into hard USD ? Just wondering (along the lines of AndyM's last question).

"Flammandus et Contemptus / Seyn Todt in Schwartz "

Roffe


Total Posts: 33
Joined: Mar 2007
 
Posted: 2013-11-20 12:58
AndyM, besides the whole China thing then there are also cute schemes like http://en.wikipedia.org/wiki/CryptoLocker

pj


Total Posts: 3327
Joined: Jun 2004
 
Posted: 2013-11-20 14:50
or this one

@ Andy, I am shocked. Scared

вакансия "Программист Психологической службы" -але! у нас ошибко! не работает бля-бля-бля -вы хотите об этом поговорить?

titanium77


Total Posts: 54
Joined: Sep 2012
 
Posted: 2013-11-21 03:31
For some more entertainment because that is all it really is...
Gaming co ESEA hit by $1 MILLION fine for HIDDEN Bitcoin mining enslaver

NeroTulip


Total Posts: 996
Joined: May 2004
 
Posted: 2013-11-21 05:22
@Cheng: There are some, hmmm..., delays in getting USD out of Mt.Gox. That explains the "arb" I mentioned earlier. So yes you can buy at 522 on Bitstamp and sell at 599 on Mt.Gox, but there are various fees involved, and you can't really be sure that you can get your USD back from Mt.Gox. So in a sense, that spread reflects the relative credit worthiness of the exchanges.

Inflatable trader

Cheng


Total Posts: 2833
Joined: Feb 2005
 
Posted: 2013-11-21 10:09
you can't really be sure that you can get your USD back from Mt.Gox

Thanks Nero, that is basically what I suspected.

"Flammandus et Contemptus / Seyn Todt in Schwartz "

Gurz


Total Posts: 33
Joined: Aug 2007
 
Posted: 2013-11-21 10:37
The rebranding of the former Magic: the Gathering online exchange has really been quite successful.
They even have a piccie of a mountain https://www.mtgox.com/about-us


TakeItAndRun


Total Posts: 90
Joined: Apr 2010
 
Posted: 2013-11-21 16:16
Many opportunities to trade crypto coins available:
Litecoin, Worldcoin, Bbqcoin, Alphacoin, Fastcoin, Peercoin, Namecoin, Hobonickels, Gridcoin, Fireflycoin, Zeuscoin, Feathercoin, Krugercoin...
From Virtual-Currency Craze Spawns Bitcoin Wannabes

exotiq


Total Posts: 250
Joined: Jun 2004
 
Posted: 2013-11-29 05:42
curvefitter - very curious where you see 12% transaction fees on USD-BTC and back, unless you're counting the obscene FX volatility. One reason I've bothered with BTC is that it currently seems to be one of the cheapest ways to move money across borders: buy on coinbase, sell in Mt Gox to withdraw JPY to a Japanese account, to BTC China to withdraw RMB to a China account, or ANX to withdraw HKD to a Hong Kong account.

I've been surprised by how big some of the arbs can be (I took a snapshot of one over $350 wide here), but that might be because I am one of the few BTC users looking to use BTC to move money INTO China.

http://quant.asia

eläin


Total Posts: 60
Joined: Jun 2010
 
Posted: 2013-11-29 07:50
I feel that there is a true demand for a digital currency. But how to trade it? Much harder..

I see no reason why Bitcoin would have to be THE digital currency. Changing digital currencies is just a few clicks, so in theory the marginally best digital currency should win. Obviously other things play into account also, but the industry is ridiculously young still.

This is the reason why I am mainly invested in "all" (ltc, nmc, ppc, ftc, xpm, dgc, frc, ixc, wdc) the alternative currencies. But here comes the next problem. Again, in theory, there are already an infinite amount of different digital currencies. So again, if one is even marginally worse than the next (could be as a small thing as the name of the currency) it should "vanish".

So how many will end being viable? I am having trouble debating this with myself and do not have a decent answer.

To my understanding a big thing for any digital currency would be a stable liquidity provider to and from EUR/USD/CNY. Like a bank. In my eyes the largest value driver currently for both an digital currency exchange and a digital currency is liquidity to EUR/USD/CNY.

Time should fix these liquidity issues between digital and "normal" currencies? But there is a cost for each digital currency to go through the process of becoming liquid. Maybe this will be the first limiter to the number of digital currencies. After a real life entity, that transfers digital currencies to normal currencies, is providing 10 digital currencies to be traded, he will most likely need a marginally better reasoning to add the 11th than he did with the 10th. This will obviously not mean that the rest of the currencies will vanish, they will be just of less value.

So it seems that my theory is forming to be the following: in the long term (what ever that means in this super fast phased environment) the price of a digital currency is based on its liquidity.

Bitcoin has a huge head start for being the fist. But if you for a second believe in my theory of liquidity, Bitcoin will be passed by currencies that have faster transaction confirmation processes build into them. For example confirming a Litecoin payment takes on average 2.5 minutes, for Bitcoin it can take up to an hour. At Starbucks, are you going to wait for an hour to get your coffee? For this even the 2.5 minutes is way too long.

I am following very eagerly how all this develops. Interesting times ahead.

Roffe


Total Posts: 33
Joined: Mar 2007
 
Posted: 2013-11-29 08:34
I'm not sure how other cryptocurrencies implement things like contracts, scripts etc, but in the long run you'll probably have to account for these features as well if trying to guess which currency will be the most popular.

radikal


Total Posts: 253
Joined: Dec 2012
 
Posted: 2013-11-30 03:27
It's hard to step back away from the hype; while I appreciate the price action, I'm more interested in # of transactions and getting to the point where mining is not the core business for transaction verification.

The sketchiness of the various exchanges somewhat terrifies me. I'm not loving the idea of wiring large amounts to Bulgaria...

There seem like a few missing components to the cryptocurrency ecosystem; clearing? collateralized quick credit? (To avoid the long confirmation times on small transactions)

There are no surprising facts, only models that are surprised by facts

oracle1


Total Posts: 2
Joined: Dec 2009
 
Posted: 2013-12-02 15:44
Most exchanges are pretty badly run and pretty badly implemented. Thankfully there's a few new ones coming up which sounds more serious with less ridiculous maker fees (or even rebates), see http://www.itbit.com and perhaps http://www.coinsetter.com.

Some good graphs:
# of transactions: https://blockchain.info/charts/n-transactions-excluding-popular
market cap: https://blockchain.info/charts/market-cap


AlgoArtist


Total Posts: 7
Joined: Nov 2013
 
Posted: 2013-12-05 04:22
Really?!

pj


Total Posts: 3327
Joined: Jun 2004
 
Posted: 2013-12-09 13:04
Facebook Could Launch the Anti-Bitcoin

вакансия "Программист Психологической службы" -але! у нас ошибко! не работает бля-бля-бля -вы хотите об этом поговорить?

nikol


Total Posts: 423
Joined: Jun 2005
 
Posted: 2013-12-11 15:29
JPMorgan files patent for Bitcoin-style payment system
.
"JPMorgan Chase has filed a US patent application for a computerised payment system that resembles some aspects of Bitcoin, the controversial virtual currency.
Like Bitcoin, JPMorgan’s proposed system would allow people to make anonymous, electronic payments over the internet, without having to reveal their name or account numbers or pay a fee, according to the patent application."
.
if ANYONE can do, why we cannot.




nikol


Total Posts: 423
Joined: Jun 2005
 
Posted: 2013-12-11 15:37
another interesting stuff..

graphic cards to mine litecoins

Looks like BCs are "chewed", the new hot-spot is emerging.

"Bitcoin and Litecoin prices tend to move together" ... => stat. arbitrage? :)
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