The Bitcoin Thread

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SilverNodashi said:
please explain futures?
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It is all in the name. Futures trading is betting on the future price of a specific asset. Think of it as crystalball trading and in the crypto world most active future trading involve coins that are not on the market yet. So in most cases future trading on an asset starts really low if the probably of the asset not launching is high but if you buy it very low and it does launch you could make a killing whereas if it doesn't launch you could instantly lose it all or most of it. example : look at b2x future trading before supposed fork and after it got effectively cancelled, the price plummetted to 1/10th the future market price before the cancellation announcement.
 
Anthro said:
Don't do that, the man wanted some lamens terms here, from you th average Joe User
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I don't see anyone stopping you from contributing to his enlightenment.
Not everyone has the time to explain what is in essence a complex topic.
 
Here's an interesting video I found explaining the fundamentals of Bitcoin / cryptocurrency. I learned quite a bit from it myself.

It does inspire some degree of confidence in it, rather than just seeing it as tulips/gambling on worthlessness.

[video=youtube;bBC-nXj3Ng4]https://www.youtube.com/watch?v=bBC-nXj3Ng4[/video]
 
Voicy said:
Here's an interesting video I found explaining the fundamentals of Bitcoin / cryptocurrency. I learned quite a bit from it myself.

It does inspire some degree of confidence in it, rather than just seeing it as tulips/gambling on worthlessness.

[video=youtube;bBC-nXj3Ng4]https://www.youtube.com/watch?v=bBC-nXj3Ng4[/video]
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Great vid thanks
 
manicminer said:
As per one of those articles in the link you posted, futures could present a compelling short opportunity for investors which could bring it back to 'normal'
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Can you elaborate on this for those of us who have the dumb.
 
CME are in it to get rich out of other peoples money and they will make a killing off BTC. They have ±$45 billion in total holdings and their deep pockets COULD enable them to manipulate the market to short Bitcoin, potentially causing the price to tumble while they sit with their carefully calculated long position.

CME said that bringing bitcoin out to a more open market would increase stability. Long term I agree but short term, anything can happen. It could become stable at $15000 or $10000.

BTC has skyrocketed $5000/BTC since CME's announcement just over a month ago! It's price could well be over inflated because of overenthusiastic expectations. BTC will go up, but it might be overtaking itself and need a correction soon IMO.
 
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Voicy said:
Can you elaborate on this for those of us who have the dumb.
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Basically shorting implies that you sell before you buy... you borrow a commodity (in this case BTC) from the exchange to 'sell' it, with a commitment to buy after the price drops. Your position remains open and you close it when you've made (or lost) enough. If the price climbs after you take a short position, you lose out as your purchase to fulfill your commitment happens when you close your position. If the price drops, you make money as when you close your position, you buy the stock to fulfill your obligation / debt to the exchange at a lower price than when you borrowed.

There are likely a bunch of pro investors waiting for the bubble to burst so they can jump in with a short position. That said, crypto is way too volatile and unpredictable for many investors to risk.
 
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lol - having an entertaining conversation with people from bitcoin-mine.org (this is a SCAM SITE, DO NOT TRADE HERE).
Signed up because a colleague was directed to a cnn fake site so thought it'd be fun. So far, I've received 4 phone calls attempting to get me to sign up on their site - interestingly, they don't accept BTC as a payment method :D

It's quite fun to string them along and see how much they'll try to get me to use a credit card or money transfer to them. So far I have them believing I'm a recluse who invested in BTC right at the beginning and my holdings are so large that I exclusively trade in BTC and don't touch fiat stuff (fiat peasants ;) )

Oops, 7 calls now.
 
AntiThesis said:
lol - having an entertaining conversation with people from bitcoin-mine.org (this is a SCAM SITE, DO NOT TRADE HERE).
Signed up because a colleague was directed to a cnn fake site so thought it'd be fun. So far, I've received 4 phone calls attempting to get me to sign up on their site - interestingly, they don't accept BTC as a payment method :D

It's quite fun to string them along and see how much they'll try to get me to use a credit card or money transfer to them. So far I have them believing I'm a recluse who invested in BTC right at the beginning and my holdings are so large that I exclusively trade in BTC and don't touch fiat stuff (fiat peasants ;) )

Oops, 7 calls now.
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Kudos LOL
Give them something to keep them busy.
 
AntiThesis said:
lol - having an entertaining conversation with people from bitcoin-mine.org (this is a SCAM SITE, DO NOT TRADE HERE).
Signed up because a colleague was directed to a cnn fake site so thought it'd be fun. So far, I've received 4 phone calls attempting to get me to sign up on their site - interestingly, they don't accept BTC as a payment method :D

It's quite fun to string them along and see how much they'll try to get me to use a credit card or money transfer to them. So far I have them believing I'm a recluse who invested in BTC right at the beginning and my holdings are so large that I exclusively trade in BTC and don't touch fiat stuff (fiat peasants ;) )

Oops, 7 calls now.
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Start a separate thread and record and detail everything. Could be epic, like 419 baiter or something.
 
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