Do you think the bitcoin exchanges are any different from other financial markets, in theory? Isn't the goal the same everywhere, to do successful trades? 
Topic: Curiosity versus currency - page 2. (Read 3167 times)
BBanzai: You are a master with words. Do you think the bitcoin exchanges are any different from other financial markets, in theory? Isn't the goal the same everywhere, to do successful trades?
Do you think the bitcoin exchanges are any different from other financial markets, in theory? Isn't the goal the same everywhere, to do successful trades? I have so far been playing the exchange with tactics that gradually increased my account in dollars.
BB, if you tweak your strategy just a bit, your account will increase in both dollars and bitcoins. On each round trip, sell a fraction fewer bitcoins than you bought. There is no shame in providing liquidity to an exchange. It's a valuable service and you deserve to profit from it.
I suppose I shall take that as a compliment, Damien, although I am not entirely certain where your ominous sense of me springs from. Evil is as evil does, as they say. I had a thought tonight that I cannot quite get square in my mind. I have so far been playing the exchange with tactics that gradually increased my account in dollars. If everyone does that, in the U.S. at least, it means that the dollar is valued higher than the bitcoin. Obviously, if I could pay for most goods and services in bitcoin, I would use the same tactics, but with the goal of buying dollars "low" and selling them "high". Forgive me if I am asking the obvious. But I'm curious to know if the bitcoin true-believers trade that way. That is, selling bitcoins low and buying them high if I understand this correctly.
Do not get me too far wrong. In exploring what this new toy consists of, I have both learned about bitcoin casinos and about the exchanges. Hands on is the best way to get a grasp of anything. The thoughts that consume my nights are not about profiting, but about learning what is real. That is why I garden. That the exchanges, the money markets, serve a purpose is apparent. But the switch from commodity to currency requires a huge advance in common acceptability. That is, free trade for real products and services for BC. Unless of course you are a technocrat that thinks you can eat the numbers in your workstation.
Man, you talk like an evil mastermind. Remind me not to get on your bad side. I imagine my whole life would slowly deteriorate while you plot diabolically to make it worse and worse.
Do not get me too far wrong. In exploring what this new toy consists of, I have both learned about bitcoin casinos and about the exchanges. Hands on is the best way to get a grasp of anything. The thoughts that consume my nights are not about profiting, but about learning what is real. That is why I garden. That the exchanges, the money markets, serve a purpose is apparent. But the switch from commodity to currency requires a huge advance in common acceptability. That is, free trade for real products and services for BC. Unless of course you are a technocrat that thinks you can eat the numbers in your workstation.
It only looks like the exchanges are influencing the price, they are actually discovering it.
This. 
Buying low and selling high helps smooth out the price, people get paid for that. Buying high and selling low exaggerates swings, people have to pay to do that.
Day trading is not the point of bitcoin at all and if it were the value would already be zero. It only looks like the exchanges are influencing the price, they are actually discovering it.
Day trading is not the point of bitcoin at all and if it were the value would already be zero. It only looks like the exchanges are influencing the price, they are actually discovering it.
I mine; I invest; I make purchases in BTC. I would sell in BTC too if it were possible in my profession.
I imagine there are many more like me here, only these are the early days of bitcoin. Commercial institutions must co-evolve gradually in order to be profitable and legal battles loom. Give it time.
But I agree with your sentiment: don't "gamble" on bitcoins. Put some of your USD behind this liberating idea. Invest and make it happen.
I imagine there are many more like me here, only these are the early days of bitcoin. Commercial institutions must co-evolve gradually in order to be profitable and legal battles loom. Give it time.
But I agree with your sentiment: don't "gamble" on bitcoins. Put some of your USD behind this liberating idea. Invest and make it happen.
I have never been a gambler, or traded words for indemnity. I have earned my keep by solving specific puzzles that my clients could not. The idea of arguing one's way into a paycheck is offensive to me. Studying Bitcoins is well within my demeign. I find it fascinating that the easiest way to play with them is in the form of a casino, with everyone playing the odds that they can buy low and sell high. I may have said this before. If noone is trading real work for Bitcoins, then they are simply chips in a stupid game. The house always wins. The basic principle of money markets is "screw the other guy, he's stupid." Playing that particular game at length is a clear indication that you have nothing of value yourself to offer, as is true with all gambling.
Uhmm.... securing the authenticity and accuracy of every transaction ever made on the bitcoin network is work. My GPU cycles ,which incidentally cost something, secure the network. There is no buying and selling at the mining level. It's simply performing service.
BBanzai, I get the feeling you think people are hoarding or is there not enough people doing work for/with Bitcoin as far as selling and buying actual items?
It IS a game. The person who dies with the most Bitcoin wins. Can't take the heat, get out of the kitchen.
I have never been a gambler, or traded words for indemnity. I have earned my keep by solving specific puzzles that my clients could not. The idea of arguing one's way into a paycheck is offensive to me. Studying Bitcoins is well within my demeign. I find it fascinating that the easiest way to play with them is in the form of a casino, with everyone playing the odds that they can buy low and sell high. I may have said this before. If noone is trading real work for Bitcoins, then they are simply chips in a stupid game. The house always wins. The basic principle of money markets is "screw the other guy, he's stupid." Playing that particular game at length is a clear indication that you have nothing of value yourself to offer, as is true with all gambling.
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