Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 18779.

becoin

legendary

Activity: 3431

Merit: 1233

Quote from: DaRude on May 30, 2016, 05:30:31 PM

Quote from: becoin on May 30, 2016, 05:01:24 PM

This is not good for Bitstamp. They're desperately trying to make money by expanding their business but they should stick to bitcoin only. Trading EUR/USD during weekend days and holidays is a recipe for disaster. They will have nobody to unload/hedge their positions during that time. EUR/USD pair is quite stable now but this was not always the case, nor it'll be in the future. Sometime gaps between Fridays and Mondays are so big that even a middle size broker can easily be bankrupted in a single day.

Huh i'm not following. They're only letting users trade between each other to set the rate. They're not pegging the rate over the weekend. I don't see the fx risk exposure that needs to be hedged here

If they really and strictly are letting users trade between each other to set the rate then I'm not following them. If you trade BTC/EUR and BTC/USD then you effectively trade EUR/USD as well. Why would you deliberately introduce EUR/USD if you're not tempted to take advantage of some arbitrage 'opportunity'? With the opportunity, however, comes the risk especially if you don't know what is the EUR/USD exchange rate.

Fakhoury

legendary

Activity: 1386

Merit: 1027

Permabull Bitcoin Investor

IMF Magazine Examines Present and Future of Bitcoin

http://cointelegraph.com/news/imf-magazine-examines-present-and-future-of-bitcoin?utm_content=bufferdfb0a&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer

Assmaster2000

member

Activity: 84

Merit: 10

Quote from: DaRude on May 30, 2016, 05:30:31 PM

They're only letting users trade between each other to set the rate.

Just when an interesting debate was getting started. Way to go and ruin it for everyone Angry

DaRude

legendary

Activity: 2833

Merit: 1851

In order to dump coins one must have coins

Quote from: becoin on May 30, 2016, 05:01:24 PM

This is not good for Bitstamp. They're desperately trying to make money by expanding their business but they should stick to bitcoin only. Trading EUR/USD during weekend days and holidays is a recipe for disaster. They will have nobody to unload/hedge their positions during that time. EUR/USD pair is quite stable now but this was not always the case, nor it'll be in the future. Sometime gaps between Fridays and Mondays are so big that even a middle size broker can easily be bankrupted in a single day.

Huh i'm not following. They're only letting users trade between each other to set the rate. They're not pegging the rate over the weekend. I don't see the fx risk exposure that needs to be hedged here

European Central Bank

legendary

Activity: 1288

Merit: 1087

Quote from: becoin on May 30, 2016, 05:01:24 PM

This is not good for Bitstamp. They're desperately trying to make money by expanding their business but they should stick to bitcoin only.

I wonder if their new regulations cover them for that stuff. Maybe so but there might be a whole new bunch of rules to follow.

600watt

legendary

Activity: 2338

Merit: 2106

Quote from: becoin on May 30, 2016, 05:01:24 PM

This is not good for Bitstamp. They're desperately trying to make money by expanding their business but they should stick to bitcoin only. Trading EUR/USD during weekend days and holidays is a recipe for disaster. They will have nobody to unload/hedge their positions during that time. EUR/USD pair is quite stable now but this was not always the case, nor it'll be in the future. Sometime gaps between Fridays and Mondays are so big that even a middle size broker can easily be bankrupted in a single day.

but with a $15 lower price than average, customers will get tempted to sell their coins @competition. that can´t be good for an exchange. what should they have done about it instead?

Assmaster2000

member

Activity: 84

Merit: 10

^Good point. You should drop them a line.

becoin

legendary

Activity: 3431

Merit: 1233

This is not good for Bitstamp. They're desperately trying to make money by expanding their business but they should stick to bitcoin only. Trading EUR/USD during weekend days and holidays is a recipe for disaster. They will have nobody to unload/hedge their positions during that time. EUR/USD pair is quite stable now but this was not always the case, nor it'll be in the future. Sometime gaps between Fridays and Mondays are so big that even a middle size broker can easily be bankrupted in a single day.

0rganic

member

Activity: 119

Merit: 10

Quote from: DaRude on May 30, 2016, 01:15:12 PM

Quote from: yefi on May 30, 2016, 01:09:49 PM

Quote from: finkelsteinMonster on May 30, 2016, 11:47:29 AM

Look how time flies, down $10 since that was posted.

LOL yes only if they were trolls would be even funnier

Nuff said

)

600watt

legendary

Activity: 2338

Merit: 2106

oh... look at that!

Quote

Dear Bitstamp clients,

We are excited to announce that our clients can now use our new EUR/USD trading pair. The new trading pair allows for better mobility of funds and new arbitrage opportunities.

Trading will begin tomorrow, May 31st, 11:00 UTC.

About EUR/USD trading
• Live trading 24/7
• Flat 0.2% fee
• Cash exchange

Bitstamp has recently obtained a Payment Institution License in Luxembourg, making it a licensed currency exchange. In the approaching months we will continue to add more fiat-to-fiat and virtual currency-to-fiat trading pairs in order to cater to our client's needs.

Please do not hesitate to contact us in case of questions or if you require any assistance.

Best regards
Bitstamp

i was expecting such a move. everyone with some btc on a bitstamp account was wondering why the price was so low in $ but much higher in €. the difference was up to $15 per btc. which means that if it was possible to sell your btc on stamp for € and then convert those to $ and buy back btc one could make money easily. bitstamp must have gotten a lot of requests by customers today to end this strange spread by letting them swap their €/$ accounts. it is really incredible that bitstamp is able to react that fast. the moment this trading is allowed $ price for btc on bitstamp will jump to bitfinex level.

https://www.bitstamp.net/article/bitstamp-launches-eurusd-trading/
(reddit x-post)

doc12

legendary

Activity: 1284

Merit: 1042

Quote from: nioc on May 30, 2016, 04:15:57 PM

Quote from: r0ach on May 30, 2016, 04:12:08 PM

Quote from: doc12 on May 30, 2016, 03:59:12 PM

Me too, but I dont invest more then I can afford to loose. So no extra BTC for me atm Sad

I just buy until the price of the ones I already have goes up.

Maybe I'm a bit slow but I don't understand.

My first btc was $22. So once it went to $23 I should have stopped buying?

These are nice prices Roll Eyes

Unfortunatly my first were around 220$ ...

nioc

legendary

Activity: 1624

Merit: 1008

Quote from: r0ach on May 30, 2016, 04:12:08 PM

Quote from: doc12 on May 30, 2016, 03:59:12 PM

Me too, but I dont invest more then I can afford to loose. So no extra BTC for me atm Sad

I just buy until the price of the ones I already have goes up.

Maybe I'm a bit slow but I don't understand.

My first btc was $22. So once it went to $23 I should have stopped buying?

nioc

legendary

Activity: 1624

Merit: 1008

Quote from: 600watt on May 30, 2016, 03:53:36 PM

Quote from: nioc on May 30, 2016, 03:33:12 PM

Since btc is cheap compared to what it will be very soon, I just purchased 50 more.

congrats! wish i could do the same...

Me too

I knew the price was going up soon so a few weeks ago I started buying a small amount everyday with cash and 3 small weekly purchases from circle. So I did end up with a few more

I would like to buy more but I did silly things with my money like get my teeth fixed and replace my 26 year old car.

But I wasn't joking that I believe the price will go up from here, long term.

My post was supposed to be a bit of troll bait

r0ach

legendary

Activity: 1260

Merit: 1000

Quote from: doc12 on May 30, 2016, 03:59:12 PM

Me too, but I dont invest more then I can afford to loose. So no extra BTC for me atm Sad

I just buy until the price of the ones I already have goes up.

bitebits

legendary

Activity: 2242

Merit: 3523

Flippin' burgers since 1163.

Quote from: nioc on May 30, 2016, 03:33:12 PM

Since btc is cheap compared to what it will be very soon, I just purchased 50 more.

High rollers only do business per 1 2 4 blocks a trade Cool

.

Let's start measuring wealth in Bitcoin minutes. You just bought yourself 20 Bitcoin minutes, soon ~~magically~~ mathematically being 40 Bitcoin minutes.
Bitcoin truly is like time travelling in the era of the financial Stone Age.

doc12

legendary

Activity: 1284

Merit: 1042

Quote from: 600watt on May 30, 2016, 03:53:36 PM

Quote from: nioc on May 30, 2016, 03:33:12 PM

Since btc is cheap compared to what it will be very soon, I just purchased 50 more.

congrats! wish i could do the same...

Me too, but I dont invest more then I can afford to loose. So no extra BTC for me atm Sad

600watt

legendary

Activity: 2338

Merit: 2106

Quote from: nioc on May 30, 2016, 03:33:12 PM

Since btc is cheap compared to what it will be very soon, I just purchased 50 more.

congrats! wish i could do the same...

r0ach

legendary

Activity: 1260

Merit: 1000

Quote from: r0ach on May 30, 2016, 03:37:53 PM

nioc

legendary

Activity: 1624

Merit: 1008

Since btc is cheap compared to what it will be very soon, I just purchased 50 more.

Assmaster2000

member

Activity: 84

Merit: 10

Quote from: DaRude on May 30, 2016, 03:16:10 PM

Quote from: Assmaster2000 on May 30, 2016, 03:01:18 PM

Quote from: soullyG on May 30, 2016, 02:58:53 PM

Quote from: 600watt on May 30, 2016, 02:45:02 PM

Quote from: DaRude on May 30, 2016, 02:40:18 PM

Quote from: becoin on May 30, 2016, 02:00:38 PM

Wow... Bitcoin haters troll fest. What a bunch of losers panicking because of bitcoin appreciation?

Yeah over half of the comments is from ignored users

the quoting quote of ignored users is too damned high. Angry

I'm surprised my ignore list hasn't crashed the BCT server yet

Every once in a while, I click "unignore," just to see if things have improved. Nope, same puerile pap: who got ignored, who unignored, who reignored, who should be ignored but isn't...

Back on ignore they go

With ChartBuddy gone, I'll post these from time to time...

This shouldn't be misconstrued as investment advice; prices go up and down all the time. They might be going down for a while, but that's no reason to sell.

First they took away the glowing ignore indicator, then they took away the noob jail, what's next taking the captcha out at at registration Angry

My ignore list is just growing and growing, there must be a way to monetize this with permanent public ledger technology.

Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 18779. (Read 26710965 times)