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TELL 'YA WHAT I'M GONNA' DO !!!! I love my Plus 500 Program. It tells your monetary position at all times and because of the big margin and Leverage they allow you it also tells you how much of your money is AVAILABLE to you at that moment. It is the poor boy's way of playing the market. Right now I do not have enough free money to get into Bitcoin. But I will and I will report back here. For $105 or so of Canadian money I can get the profit or loss off of 1 Bitcoin. I'll gamble this paltry amount and keep this Board informed. Meanwhile I have my e-mail addy in my profile here. I think we can make some money here.
Let me run this by you. It is a true up-to-the-minute copy. CANADIAN MONEY -- and Mt.Gox
Buying: Bitcoin
Current rate: 958.20
Amount: Contracts After leverage ( they say 100 ? contracts )
Value:$ 958 = C$1,044.44
Required securities:$ 96 = C$104.44 ( 10 % of the value -- you must put up )
Close at profit - when rate is ( wouldn't copy )
Profit:C$11.11 1.0635 % ( 10 % on your money )
I'll go back now and dig up these numbers and do a little discussion.
I'm back. The Plus Program runs very fast and this is the best I could do right now. In the above scenario if you wished to make a quick 10 % on your money ( $10.40 ) you would close at $967 US on the Bitcoin at Mt. Gox. ( a 1 % gain ). You numbers people here should enjoy this. I'm thinking hard about putting some skin in the game now. I'll look hard at the down side risk -- but I CAN afford to lose on this because it's peanuts to pay for the learning experience. I love it so far !!!!!!!
Significant News. I am into the stock program at Plus 500. It is very good. They specialize in giving you big margins both short and long and that gives you big leverage. Yes it is risky. Up until just now they would not allow you to hold a Bitcoin position beyond day's end. You had to close each day. NOW -- I see they are allowing you to carry a Bitcoin position until Jan. 31. Double Hmmmmmm !!! I may just buy ONE. The cost is around $110 because of the huge leverage we get. Here is a copy of what they are saying .. and it is ONE HUNDRED Bitcoins. You get the profit or the loss off 100 BTC if you close out. Pretty risky, huh ?? Die No Mite !!!!!!!!!
"""Bitcoin
Warning! - Bitcoin value is extremely volatile. Bitcoin / USD as in MtGox.com virtual currency.
MtGox.com
Unit amount100 Contracts
Premium buy-0.0950 %
Premium sell-0.0950 %
Premium time10:00 AM
Leverage1:10
Initial margin10.00 %
Maintenance margin5.00 %
Expires dailyNo
Expiry date
1/31/201412:00 PM
Trading hours
Sun 6:00 AM-
Sun 4:00 AM """"
Thank you John -- I love it. I'm bookmarking it.
Thank you John -- I love it. I'm bookmarking it.
THAT is a two bit fraudulent ha ha oil company using the BTC ticker to defraud speculators. Beware.
WHHHHHHHHHHAAAAAAATTTTTT ???????????? THAT company is a Vancouver-based SCAM company !!!!!!!!!!!!!!!!!!!!!!!!
Bitcoin has not yet reached what is called ' critical mass '. In other words the Jury is still out on whether it has staying power or was just another gimmick flash in the pan. I guess it has already established itself as THE cyber currency and will only get stronger in this field. I hate Paypal because they are rip-off artists. But Bitcoin will eventually top out if it does not get accepted as a NATIONAL CURRENCY by some small country. That will be a major major breakthrough and could start the world exodus away from the U.S. Buck. But don't look for that any time soon -- in my opinion. The World Stage is too big. But I was impressed at the size of those computers in Hong Kong. Someone has the dough to build them.
Looks like we may have come full circle. I remember the first huge computers with the big discs and the punched tapes. They evolved smaller and ever smaller until the pioneers like Bill Gates and his peers made the quantum change into personal computers small enough to put on your desk and that did much much more. NOW -- with Bitcoin we are back to HUGE HUGE computing machines again. As far as all the other cyber currency clones are concerned - they are but mere copies of one of Bitcoin's uses and they are along just for the ride of buying low and selling high. There is no room for a great number of differently-named cybermoney entities. Bitcoin and the economics theory behind it is what is the intriguing part. It was said in History -- that he who controls the currency -- controls the Country -- no matter which Political Party THINKS it does and has been voted in by Joe Sixpack and friends.
The part that I do not understand and probably I will leave it at that for now is Bitcoin Mining.
They talk of solving algorithms and complex computer equations. WHO makes up the problems and WHO knows who solves the problems ?????? Maybe there really is a thinking BEAST ?? Scary as heck !! Apparently the special computers that you can buy to try ' mining ' run very very hot and suck electricity like heck. Talk about science fiction !! It is anyone's guess where all of this is leading us. It has hooked me. I am fascinated.
It's people in China and America doing virtually all the buying - percentagewise. I think in China it is a mini exodus out of the U S Buck. They believe their money will have more purchasing power from now on in Bitcoin than it will in Dollars. Those people are really really tech-savvy. Far more than Joe Sixpack realizes. It's like the old story of Sinbad and his camel and his tent in a big sandstorm. The camel slowly asks to get into the tent, one body part at a time -- until finally the camel is IN the tent and poor old Sinbad ( Joe Sixpack ) is out in the storm.
I'll tell 'ya -- I would buy a little myself but right now I cannot afford to lose. There is an old adage -- You can't win if you don't get in !!!! I notice I Hub has now put a price chart on here. It's like they now recognize it. I wonder where they are getting their quotes. I remember many years ago that Red China was called Red China and the whole world ignored it. Like on the maps. It just was not there. NOW look at it. We love it because it makes cheap stuff. However the Jury is still out as to who is the sharpest -- Charlie Chan or Uncle Sam the Yankee trader. China got tons of Bucks for their goods PLUS the jobs to create them. America lost jobs and fiat paper, but got solid merchandise. So -- who won ?? I think jobs are the most important. Anyhow right now this Bitcoin is the Joker or the Wild Card. If China can succeed in exchanging fiat paper Bucks for Bitcoin it will no longer be held hostage by the U S Bankers who can jerk around with the value of the Bucks China holds. There is a HUGE money war going on right now under our very noses. Bitcoin is the Equalizer. PERHAPS !!!!!!!!
I love discussing this. It is my all-time favourite subject -- money / currency. If you examine our all-time classic .. the old Monopoly board game, you will see that the role of the Banker was very small. Economics is but a mere COMPETITION of you and me competing with our fellow humans and neighbours for each others' MONEY. Money serves as chips in the game. When most of the chips get into just a few hands - the Banker has to put more chips into the game if they want it to keep going. But the way it is now the Bankers CREAM us because they LEND the money into circulation with an INTEREST coupon on it. HOW DARE THEY ???? And WHO gave them that power ?? Things they are a changin' my friends and we are going to see some very very big changes coming.
According to the Kitco numbers the bulk of the daily trading is done in China and the U S.
KITCO gives realistic average quotes.
823.59 USD
890.86 CAD
4,936.43 CNY
629.29 EUR
570.05 GBP
Thank you for your kind thoughts -- but no thanks. I'm 85 now and spent most of my dough in a good life -- 7 kids -- 15 Grandchildren -- 1 Great Grandson. Cannot afford to lose money in the stock market now. Currently playing all short on the Plus 500 Program. Heard far far too much hype and B S in my career to go long very much these days. LOL. But I wish all the Bitcoiners the very best of fortune.
What I think we have here is THREE scenarios with Bitcoin. 1. Fun and games speculating. A glorious gambling game. YAHOOOOO !!!! Some will win -- some will lose. Vereeee risky and frivolous. 2. A legitimate shot for Bitcoin to become ONE OF MANY OTHER cyber currencies. And 3. The very remote concept that Bitcoin will one day become a true International currency adopted by one or more Countries. Although the concept of it is currently being tested and proven -- so that ANY country can build a similar MODEL and use it exclusively. For example it could start in Argentina and the Argentines could call it Bolivars or any name it wanted to -- completely divorced from Bitcoin. Just using the Bitcoin Model.
You appear to know the most about all this cyber currency stuff even though your writing style leaves much to be desired. You will either make a small fortune or blow your brains out ( so to speak ). I wish you the best of good fortune. I just hope this is not a repeat of the Fable about the Emperor's Clothes - where just the little kid spoke up and said the Emperor was naked. Ha Ha. Best of luck to all you players !!!!!!! The Gumpster.
This is one of the most amazing and strangest of phenomena. WHO SAID that only so many Bitcoin would ever be made ??????????????????? You really can't have a game of any kind unless there is a group of people who own it and control it. Quite frankly it defies logic. It can't really become a National currency unless that country OWNS it. Argentina could declare its new currency to follow the MODEL of Bitcoin. That is -- for one -- computer monitored. As it is now Bitcoin is only a currency substitute that no one owns or controls. Its excellent premise may limit its workability as a NATIONAL currency.
Let us find a small existing country with the will to break the chains of the International Banking Fraternity. But not a desolate bleak country with no resources. It should have at least one thing that can be sold internationally. So we make this country the basis of currency comparisons throughout the whole world .. much like the Buck is to-day. Then have it adopt Bitcoin as its currency. It bases its currency on a combination of G D P and the wage rate of its skilled tradesmen - on average. Say an average middle class family with 2 kids needs the equivalent of $60,000 U S P/A to maintain a good standard of living in THAT country. Then equate that to 60 Bitcoins per annum -- AND KEEP IT THERE !!!!!!!!!!!! There's your stability. Let the rest of the world equate to THAT. Allow the Bitcoin to fluctuate any way it wants in the rest of the world. Because it will. Now invite the tourists -- just bring Bitcoin -- it will always get you the same quality of vacation in that country no matter how it fluctuates in the rest of the world. If it is worth more and more U S Bucks in America -- it makes the said vacation more expensive -- then DON'T COME !!! Ha Ha. Dare to dream - Arnold -- Dare to dream. Bitcoin in the context I have suggested is the closest you will ever come to a free market governed as it should be by supply and demand. I think we will be seeing something like this sooner rather than later. Countries like those in South America are prime candidates.
I've been around the block many many times in the penny stock jungle since 1949 when I bought my first stock. That's 65 years ago. Ha Ha. ( And one of our members recently called me Sonny !! Ha Ha ). But I must say this Bitcoin phenomenon is one of the most interesting events I have witnessed in all those years in the market. Not sound enough right now though for me to play in the game. I am definitely not convinced yet --- but I am fascinated. I once did up a private essay on money, currency, politics, and economics and this is hitting it dead on so far. I said - first - AXE the FED - get them to H out of the money business because they are thieves who clip us every day by jigging interest rates and LENDING us money. Then - Mr. President - call in the TOP 3 or 4 ENGINEERS in America and the TOP 3 or 4 computer geeks. Tell them to collaborate and design as perfect a money system as they can. Bitcoin is beginning to look like it. It has been said that Thomas Edison had a shot at it during The Great Depression. Now - computers can make it happen. The Miners are HUGE and generate a lot of heat because they work so hard. Ladies and Gentlemen -- I think we are on the threshold of a major major breakthrough in the field of Economics and Money. But the world Bankers and Money-lenders and manipulators are are not going down without a fight. I'm lovin' this.
Very impressive indeed. It is a phenomenon. Very very HOT !!!! With no market makers there will be wild wild swings. I love it !! But I'm not buying.
You have not said yet if they buy and sell small percentages of Bitcoin -- like 25 %. This gets the trade value within range of most people. Thanks.
That is most helpful. But I asked about buying and selling very small parts of one Bitcoin. Do they allow that -- say I want to buy 1/4 of a Bitcoin ? Can I do that ? Thank you.
That sounds interesting. I may look into it. Just for the halibut as they say.
Bitcoin on a tear now. Hmmmmm
With a big working capital you could probably do it. Allot half your capital to your selling market and half to your buying market. Your selling market would be in Bitcoin and you would have cash in your buying market. From time to time you would have to stop and rebalance your capital to reflect 50 / 50 again. Very very intriguing. I knew a big big New York arbitrager. I watched him ' clip ' for $100 one time. I asked him would he really arbitrage for that little. He replied -- Try $10. Ha Ha.
I wonder if you could arbitrage Bitcoin. Hit the bid on the highest market, and take out the offering on the weakest market. Vereeeeeeeeeee nice spread !!!! Purrrrrfect sell high -- buy low. Check me out here --- http://www.kitco.com/finance/bitcoin/
He always does that. Borders on being incoherent !!!!! LOL.
What I read was that it went the opposite. It was for BUYING Bitcoin only. I wonder if it would go both ways. Intriguing -- to be sure.
I read where Bitcoin ATM s are now being manufactured. Great idea but I still haven't got it thoroughly in my head about how that would ' work '. Very intriguing !!!!!
Some food here for very interesting thoughts about economics. Maybe a country like Cuba. Or even Mexico. I see China has already fallen into the death spiral of debt now -- controlled by the Bankers. I think a nice tropical country could go Bitcoin and attract tourists bigtime. Just bring Bitcoin and you would find stable prices there -- year in and year out. Maybe back it solidly by sugar or pineapples or whatever that country produced the best. As it is now in America we have lost all respect for what money really is. How do you reconcile the money that ball players are paid with respect to those who must accept food stamps ??
The Kitco site is darn good. Go to it !! http://www.kitco.com/finance/bitcoin/
I do believe 2014 is going to be a MOMENTOUS year in many theatres. I just got the usual spammy e-mail this morning and it showed a chart of the National Debt. UN BEE LEEVE A BULL. It is starting to trend STRAIGHT UP !!!!! And that's in TRILLIONS Baby. Do we all realize just how big a TRILLION really is ?? LIKE ___ WOW !!!!!!!!!!!!!!!!!!!!
I actually like it. I wish I had excess dough to trade in it.
I think these are growing pains the thing is having. It's still young. The longer it can sustain these current prices the more stable it will get. As an alternate currency it doesn't have enough stability right now. It is still a dangerous buy and sell game. What it could stand though is the old fashioned BOX or Market Maker to arbitrage it. This always helps to bring stability. We may yet see that. What I like about it is that as far as I know NO ONE OWNS DIS GAME !!!!!!!!!!!!!!!!!!!!!! I think that supply and demand are REAL and not FAKE like Wall Street.
WEEEEEE OWN DIS GAME -- & DEY CAN"T SCR** US !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Hey try this -- the big Kitco gold tout now quotes Bitcoin.
http://www.kitco.com/finance/bitcoin/
O K you people -- O K -- just what ARE you buying and raving over ?? You are buying cyber currency which you may or may not be able to use to buy physical things with in the future. TALK ABOUT iffy !!!!!!! Face up then -- you are buying something that you believe you will be able to sell to someone else in the future at a profit. That's about it !!!! What a silly game. A Bitcoin has yet to establish what its true purchasing power is.
A bit of history. I am a survivor of the old Vancouver Stock Exchange which was infamous for scams. The big big players and the Brokers and the ' IN ' crowd made their fortunes selling short. You and I were discouraged from doing that. BUY was the word to us. The pro Stockateers made small fortunes by disregarding the uptick rule. They merely hammered all bids relentlessly. What I am getting at here is -- we are told that no one really runs the Bitcoin show. I'm a bit skeptical of that. All things must have leadership. I just wonder how short selling would work on the markets that are dedicated to Bitcoin. This is a very very interesting phenomenon. Maybe those HUGE computers really run it. This is the scary part to me. Are computers making slaves of US ??? Will they become the Biblical BEAST ??
Don't brag. No one likes that.