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Bitcoin lol

 
Old 05-17-2019, 05:41 PM
  #61  
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Originally Posted by SLO VETTE View Post
At least in a company you can do research prior to owning a stock, and monitor it going forward. In owning what's effectively a Bitcoin ETF trading at a 100%+ premium to the underlying asset, plus fees, the risk is stuff you don't even understand or know of. Things like the entire asset base could be stolen overnight from hackers, or insiders.

But as a "Pattern Day Trader" you don't care about that, right? The trend is your friend, regardless of the tradable instrument.
The premium of the GBTC market price over the underlying value of the bitcoin held, is currently about 30%. It used to be higher - roughly a year ago it was a 60% premium.

The premium percentage tends to rise a bit when the bitcoin price has been heading up (and "enthusiasm" is high), and the premium percentage goes down when bitcoin prices are heading down. A few months ago, when bitcoin prices were languishing, the premium was more like 20%.

The premium is still a significant "headwind" in terms of GBTC market prices over time, and will really go down once there are more publicly-traded bitcoin (and other crypto-currency) funds, providing some competition.

For example, today's market price for GBTC is shown on the Grayscale web site as $9.25, whereas the per-share value of their actual bitcoin is only $7.12 (i.e, a 30% premium). They provide historical data for both figures.

Last edited by SilverC1; 05-17-2019 at 05:44 PM.
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Old 05-25-2019, 05:36 PM
  #62  
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https://www.cnet.com/news/facebook-w...1TIpyJsS-q_R1w

Facebook plans to release its own cryptocurrency in early 2020, according to a report Friday from the BBC.

Facebook CEO Mark Zuckerberg reportedly met with Bank of England Governor Mark Carney in April to discuss the cryptocurrency. The social media platform will lay out plans for its coin, internally called GlobalCoin, later this summer and begin tests by the end of the year, according to the BBC. The crypto will reportedly get an official launch in about a dozen countries during the first quarter of 2020.

News of Facebook developing its own digital currency first surfaced at the end of 2018. It could reportedly be used to allow people on WhatsApp, which is owned by Facebook, to transfer funds to others via the app. Facebook's cryptocurrency may have its value tied to the US dollar, also known as a stablecoin, which would prevent its value from fluctuating wildly.

Along with talking with the Bank of England, Facebook also reportedly spoke with US Treasury officials regarding regulatory issues and firms such as Western Union to discuss transferring funds.

Facebook is also reportedly interested in working on its cyrptocurrency with the Winklevoss twins, according to the Financial Times. The brothers -- who accused Zuckerberg of stealing their idea for the social media platform -- are the co-founders of Gemini, which is a licensed cryptocurrency exchange.

The Bank of England and Facebook declined to comment. Western Union and the US Treasury didn't immediately respond to a request for comment.

Last week, a Swiss news site reported that the social network was setting up a company in Switzerland to focus on payments and blockchain, the technology powering cryptocurrencies like bitcoin.



All you naysayers, do you still think crypto currency is still going no where?
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Old 05-25-2019, 07:08 PM
  #63  
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Originally Posted by themonk View Post
All you naysayers, do you still think crypto currency is still going no where?
Yes, because blockchain technology is fundamentally flawed. You simply cannot scale the transaction rate high enough to process even a small fraction of the world's needs.

https://en.wikipedia.org/wiki/Bitcoi...bility_problem
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Old 05-26-2019, 08:28 PM
  #64  
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Originally Posted by dvarapala View Post
Yes, because blockchain technology is fundamentally flawed. You simply cannot scale the transaction rate high enough to process even a small fraction of the world's needs.

https://en.wikipedia.org/wiki/Bitcoi...bility_problem
Lightning Network acts as a cache where transactions need not be on the blockchain network.
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Old 05-26-2019, 10:37 PM
  #65  
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Originally Posted by dvarapala View Post
Yes, because blockchain technology is fundamentally flawed. You simply cannot scale the transaction rate high enough to process even a small fraction of the world's needs.

https://en.wikipedia.org/wiki/Bitcoi...bility_problem
I don't want to state the obvious but if Mark Zuckerberg/FB think that crypto currency is a worthwhile investment then something tells me it's going places, you wait, Google, Amazon and Apple will be next on board, you heard it here first.
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Old 05-26-2019, 10:39 PM
  #66  
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Originally Posted by American Made View Post
Lightning Network acts as a cache where transactions need not be on the blockchain network.
Yup, it's just like when a streaming is buffered, you're watching something that has already been uploaded.
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Old 05-27-2019, 06:26 PM
  #67  
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Originally Posted by themonk View Post
I don't want to state the obvious but if Mark Zuckerberg/FB think that crypto currency is a worthwhile investment then something tells me it's going places, you wait, Google, Amazon and Apple will be next on board, you heard it here first.
Oh yeah, Zuck's a true genius, never makes mistakes, and is loved by all.

https://www.vanityfair.com/news/2019...e-for-facebook

#deletefacebook
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Old 05-27-2019, 06:44 PM
  #68  
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Originally Posted by dvarapala View Post
Oh yeah, Zuck's a true genius, never makes mistakes, and is loved by all.

https://www.vanityfair.com/news/2019...e-for-facebook

#deletefacebook
Some say the eyes are a window to the soul, and if you look close at Zuck, there's nothing there.
You cant even count the number of still frame photos (of Zuck) where his empty, soulless eyes look like those of a true sociopath/psychopath.
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Old 05-27-2019, 06:45 PM
  #69  
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Originally Posted by dvarapala View Post
Yes, because blockchain technology is fundamentally flawed. You simply cannot scale the transaction rate high enough to process even a small fraction of the world's needs.

https://en.wikipedia.org/wiki/Bitcoi...bility_problem
the internet will never go mainstream. dial up is too slow and expensive for the average home, the wiring used for phone connections doesn't allow enogh data transfer for it to be anything but a novelty.
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Old 05-28-2019, 01:11 PM
  #70  
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Old 06-18-2019, 02:11 PM
  #71  
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Old 06-18-2019, 02:16 PM
  #72  
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Facebook is releasing its own crypto currency the "libra" apparently. So its got everyone all frothing at the mouth about cryptos again.
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Old 06-18-2019, 02:45 PM
  #73  
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Originally Posted by flange View Post
the internet will never go mainstream. dial up is too slow and expensive for the average home, the wiring used for phone connections doesn't allow enogh data transfer for it to be anything but a novelty.


The internet is a human right[/BSanders]
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Old 06-24-2019, 01:27 PM
  #74  
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I still have mainly BTC now, accumulating in the dips and moved most alt holds into BTC when it was clear that the ALTBTC pairs were only going one way. I'm glad that I started gambling on crypto here https://syndicate.casino/en-au/payment-options/ethereum now i can get some extra coins fast.

Last edited by denj; 06-26-2019 at 08:48 AM.
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Old 06-24-2019, 01:54 PM
  #75  
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I'm just trying to figure out if Bitcoin is reaching some sort of short-to-medium term high, such that I ought to sell some, with the intent to buy back in on a dip....

The Libra talk is maybe contributing to the recent run-up in Bitcoin, but I'm thinking that there may be a short-term pull-back pretty soon....
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Old 07-12-2019, 12:25 PM
  #76  
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