Topic: Bitcoin Picks: Short-Term Investments and Long-Term Thinking (Read 785 times)

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Since emerging into the world of finance, the Bitcoin’s impact grows steadily wider, revolutionizing the very concept of currency and plunging into markets and financial institutions. Keeping track of rapid developments in the digital currency’s realm, Forex Magnates reports the weekly news and analysis from our specialized site, DC Magnates. This week on the agenda are rumors about Nasdaq embracing Bitcoin as part of Forex ambitions, along with short term investments’ prospects and some long-run thoughts about Bitcion’s future as a decentralized currency.

Is Bitcoin on the way to the Nasdaq as the exchange eyes Forex trade?

The New York Post reports that there may be a race to become the first regulated Bitcoin exchange in New York, the only missing piece to the puzzle being regulation itself. Citing unnamed sources, the Post says that the NASDAQ and Marc An
dreesson are both actively looking to launch such as exchange.

It’s not entirely clear from these rumors if the intention is to have bitcoins traded as-is, or to trade bitcoin exposure through ETFs. A more basic question is if NASDAQ is a stock exchange, what is their connection to bitcoins? The answer may lie in the exchange’s possible launch of a forex trading venue.

Is it possible to make profit with short term bitcoin trading?

Alongside big-picture movements revolving the digital currency, one has to consider day to day trade opportunities as well. Looking at the price movements of Bitcoin, any trader eyeing the currency will certainly have had the thought pop into their heads. The volatile price movements can be an exciting and attractive feature; however it is also a frightening aspect. Its volatility is derived mainly from the fact that unlike shares, forex or commodities, it is a product that it is entirely decentralised with scant operating rules and no regulatory body governing it.

Take for instance events earlier this month in June. Bitcoin saw a drop of its prices from around US$640 to $600. This was not due to any traditional factors such as supply or demand factors but this was because GHash.IO, one of the largest Bitcoin mining pools, made it to 51% of mining power, rocking the entire Bitcoin market.

Bitcoin thoughts: In order to thrive, Bitcoin must give up on decentralization

A number of hot topics in the crypto space are starting to coalesce, strongly reminding that the model of decentralization from authority simply doesn’t work. To be candid, it is a direct contradiction to the very definition of money, as most supporters would probably want it to eventually behave as full-fledged money.

A number of hot topics in the crypto space are starting to coalesce, strongly reminding that the model of decentralization from authority simply doesn’t work. To be candid, it is a direct contradiction to the very definition of money, as most supporters would probably want it to eventually behave as full-fledged money.

The key attributes that differentiate Bitcoin from fiat are: (1) it is (said to be) “decentralized” from authority, (2) peer-to-peer (p2p) (3) transactions are irreversible (4) transactions are (sort of) anonymous. Bitcoin However can retain its value-added features and still have 100% centralization. The concept of centralized digital currencies has been intriguing to us, and DC Magnates has followed the recent developments with MintChip.