City London does 1.85 trillion, forex a day (wiki) look whats coming

LiteCoinGuy

legendary

Activity: 1148

Merit: 1014

In Satoshi I Trust

Quote from: coins101 on December 08, 2013, 10:25:53 AM

Quote from: franky1 on December 07, 2013, 09:55:41 AM

LOL

3 computer IT geeks trying it out in the financial management market...

yes they know about coding a secure reliable site, but do they truly know all the legal issues around holding FIAT and being responsible for possibly millions of peoples money?

im getting a weird de ja vu image here of amir taaki, with his intersango and bitcoinca attempts.

id much prefer a proper forex management company making a bitcoin exchange rather than 3 IT scholars from oxford... just saying. but after all, the lovely freedom of bitcoin entrepreneurship.. lets let anyone have a try. and see how it goes

Wasn't Google started by two IT geeks?

Come to think of it, wasn't Microsoft, Apple, Facebook, Twitter, YouTube,..........bloody hell, how do I invest?

well said

!

of course they will make mistakes etc etc and maybe they will lose all but at least they tried it. if they dont reach their goals, others will.

drawingthesun

legendary

Activity: 1176

Merit: 1015

Quote from: franky1 on December 07, 2013, 09:55:41 AM

LOL

3 computer IT geeks trying it out in the financial management market...

yes they know about coding a secure reliable site, but do they truly know all the legal issues around holding FIAT and being responsible for possibly millions of peoples money?

im getting a weird de ja vu image here of amir taaki, with his intersango and bitcoinca attempts.

id much prefer a proper forex management company making a bitcoin exchange rather than 3 IT scholars from oxford... just saying. but after all, the lovely freedom of bitcoin entrepreneurship.. lets let anyone have a try. and see how it goes

Hey hey, One has a physics background, another Computer science and the last mathematics. So calling them computer geeks is a little loaded.

Also mathematics/physics/computer science people generally lead the world so talking them down is a bit stupid.

However they need to get a Lawyer on board as a founder, this is where most new tech companies go wrong. Having a lawyer as a founder is essential and cheaper as a founder instead of being paid on retainer.

coins101

legendary

Activity: 1456

Merit: 1000

Quote from: franky1 on December 07, 2013, 09:55:41 AM

LOL

3 computer IT geeks trying it out in the financial management market...

yes they know about coding a secure reliable site, but do they truly know all the legal issues around holding FIAT and being responsible for possibly millions of peoples money?

im getting a weird de ja vu image here of amir taaki, with his intersango and bitcoinca attempts.

id much prefer a proper forex management company making a bitcoin exchange rather than 3 IT scholars from oxford... just saying. but after all, the lovely freedom of bitcoin entrepreneurship.. lets let anyone have a try. and see how it goes

Wasn't Google started by two IT geeks?

Come to think of it, wasn't Microsoft, Apple, Facebook, Twitter, YouTube,..........bloody hell, how do I invest?

techstorm2

full member

Activity: 196

Merit: 100

Quote from: flynn on December 08, 2013, 09:13:11 AM

whois bitprice.com =>

Registrar: GODADDY.COM, LLC
Creation Date: 03-mar-2006
Registrant Organization: Domains By Proxy, LLC
Registrant Country: United States
Admin Organization: Domains By Proxy, LLC
Tech Organization: Domains By Proxy, LLC

sounds legit for a City site. Created 3 years before bitcoin launch too ...
hmmmmmm

It could have been created for some internet company not related to bitcoin, then they bought it when it expired recently. Give them the benefit of the doubt. Unless one of them is satoshi? Cheesy

flynn

hero member

Activity: 728

Merit: 540

whois bitprice.com =>

Registrar: GODADDY.COM, LLC
Creation Date: 03-mar-2006
Registrant Organization: Domains By Proxy, LLC
Registrant Country: United States
Admin Organization: Domains By Proxy, LLC
Tech Organization: Domains By Proxy, LLC

sounds legit for a City site. Created 3 years before bitcoin launch too ...
hmmmmmm

GigaCoin

sr. member

Activity: 308

Merit: 251

Giga

Quote from: franky1 on December 07, 2013, 09:55:41 AM

LOL

3 computer IT geeks trying it out in the financial management market...

yes they know about coding a secure reliable site, but do they truly know all the legal issues around holding FIAT and being responsible for possibly millions of peoples money?

im getting a weird de ja vu image here of amir taaki, with his intersango and bitcoinca attempts.

id much prefer a proper forex management company making a bitcoin exchange rather than 3 IT scholars from oxford... just saying. but after all, the lovely freedom of bitcoin entrepreneurship.. lets let anyone have a try. and see how it goes

IT Geeks are smart and can adapt v quickly, tons of IT Support techies rose to become CEOs, COOs and entrepreneurs. Some of the richest people on the planet are Geeks. If they can't figure it out themselves, they'll get the right people to consult.

Don't underestimate the power of IT geeks

worldtreasurefinders

sr. member

Activity: 315

Merit: 250

Quote from: franky1 on December 07, 2013, 09:55:41 AM

LOL

3 computer IT geeks trying it out in the financial management market...

What makes you think those three are it? Many times firms only showcase their best while dozens of support engineers/admin work in the background.

indiemax

hero member

Activity: 722

Merit: 500

Quote from: LiteCoinGuy on December 07, 2013, 01:03:19 PM

for my part: i wish you the best! the cryproworld needs that entrepreneurship!

Exactly,these are no idiot scammers,this is the real deal,all above board,legal and they gonna fly
China and UK have joined together in the financial world recently,China using the UK as it's global hub, this will be big for sure

coins101

legendary

Activity: 1456

Merit: 1000

Quote from: LiteCoinGuy on December 07, 2013, 01:03:19 PM

for my part: i wish you the best! the cryproworld needs that entrepreneurship!

Well said

LiteCoinGuy

legendary

Activity: 1148

Merit: 1014

In Satoshi I Trust

for my part: i wish you the best! the cryproworld needs that entrepreneurship!

jubalix

legendary

Activity: 2632

Merit: 1023

Quote from: franky1 on December 07, 2013, 09:55:41 AM

LOL

3 computer IT geeks trying it out in the financial management market...

yes they know about coding a secure reliable site, but do they truly know all the legal issues around holding FIAT and being responsible for possibly millions of peoples money?

im getting a weird de ja vu image here of amir taaki, with his intersango and bitcoinca attempts.

id much prefer a proper forex management company making a bitcoin exchange rather than 3 IT scholars from oxford... just saying. but after all, the lovely freedom of bitcoin entrepreneurship.. lets let anyone have a try. and see how it goes

I'm not referring to them per se, rather that there is money left on the table by this, eg btc-e alone has done almost 100M vol. n the last 24 hours, and an entity in the city will eventually step up and successfully take it.

FlappySocks

hero member

Activity: 546

Merit: 500

Good luck on them getting a bank account in the UK.

franky1

legendary

Activity: 4424

Merit: 4794

LOL

3 computer IT geeks trying it out in the financial management market...

yes they know about coding a secure reliable site, but do they truly know all the legal issues around holding FIAT and being responsible for possibly millions of peoples money?

im getting a weird de ja vu image here of amir taaki, with his intersango and bitcoinca attempts.

id much prefer a proper forex management company making a bitcoin exchange rather than 3 IT scholars from oxford... just saying. but after all, the lovely freedom of bitcoin entrepreneurship.. lets let anyone have a try. and see how it goes

LiteCoinGuy

legendary

Activity: 1148

Merit: 1014

In Satoshi I Trust

its all just the beginning and of course, china is more important than others. we will see professional trading of crypto all over the world in some years.

at the begin of 2013 there were maybe 2-3 "good" exchanges, now there a dozens. and in 2014 we will see the first professional exchanges with alot funding, professional software, professional regulation etc etc

and maybe after that, we will see big banks comming in.

coins101

legendary

Activity: 1456

Merit: 1000

Coin regulation services are being set-up in London too http://coinregulations.com

The thing about London that makes it a good place to trade is its time zone, engagement with the East in the morning trade and North / South America in the afternoon, and the UK has stable laws.

The value of BTC trades in London is way less than 1% at the moment. But it does more FX than anywhere else in the world. That means BTC exchanges have the greatest upside potential in the UK, I just don't think the UK and Europe have fully woken up to the money making potential in the same way as China and the USA.

vandeam

full member

Activity: 280

Merit: 100

Omfg BUY BUY BUY Grin

jubalix

legendary

Activity: 2632

Merit: 1023

Where there is currency trading the City will do it, and can operate more or less outside of the parliamentary requirements/legislation, the quid pro quo is they will raise money when the parliament needs it.

Look whats coming
http://www.bitprice.com/

I'm not referring to them per se, rather that there is money left on the table by this, eg btc-e alone has done almost 100M vol. in the last 24 hours just for btc/usd, and an entity in the city will eventually step up and successfully take it.

There no reason that can't be $1 billion, at 0.2% that's 2 million a day....someones going to pick this up

China isn't really that relevant in comparison to the scale of this trade, or the US for that matter, not their GDP buying power or much else really.

Topic: City London does 1.85 trillion, forex a day (wiki) look whats coming (Read 2109 times)