Bitcoin Going Nuts

tar

Well-known member
Nov 18, 2006
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#23
Not relevant to trading to it.
When it comes to a pyramid scheme i wouldnt ask why .. same goes for penny stocks , i wouldnt ask why a penny stock surged 300% overnight cuz the answer is irrelevant ...
 

Jason101

Well-known member
Oct 9, 2008
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#24
:rolleyes: Do you have other explanation?
When it comes to a pyramid scheme i wouldnt ask why .. same goes for penny stocks , i wouldnt ask why a penny stock surged 300% overnight cuz the answer is irrelevant ...
No, I haven't Lapidus, it was a genuine question, I have no clever answer. I think tar is on the right track here though.

My trading system has stayed the same for years now. Before I settled on my style I made sure it tested well on randomly generated charts.

So I lean towards the idea of reasons being irrelevant. But it is still damn interesting, why things take off. How much of it is random? How much of it is pyramiding in a thin market, or psychology? Just really interesting.

Because my trading is back tested on randomly generated charts I am particularly interested by something that is seemingly as arcane and aimless as bitcoin.
 

mike.

Well-known member
Feb 25, 2012
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#25
The sudden rally of bitcoin could well be something to do with the " blockchain " development, there was a interesting article on the radio the other week regarding blockchain's..I dont fully understand how they work but apparently its the new" big thing"..

Not wanting to get left behind, its got the attention of some of the worlds major banks signing up too, Heres a link explaining it a little more...

https://bitcoinmagazine.com/article...nitiative-grows-to-banks-worldwide-1443553081
 
Likes: Jason101

mike.

Well-known member
Feb 25, 2012
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#27
I did also read that the us government is selling off a large quantity of bitcoins which were seized by the FBI when they busted "silk road 2.0 " ( Online drug dealing site ) This also may of triggered a bullish rally on the stock..
 

tar

Well-known member
Nov 18, 2006
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#28
I did also read that the us government is selling off a large quantity of bitcoins which were seized by the FBI when they busted "silk road 2.0 " ( Online drug dealing site ) This also may of triggered a bullish rally on the stock..
But shouldnt that trigger a bearish reaction ... ?
 

mike.

Well-known member
Feb 25, 2012
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#29
But shouldnt that trigger a bearish reaction ... ?
One would think so, but putting the stock in the public eye and also the government selling it may bring in investor's that would never concider the stock before, I personally wouldn't touch a synthetic made-up stock , it has all the hallmarks of the dreaded "colatrolised debt obligation" (cdo) that brought the financial crisis a few years back.
 

tar

Well-known member
Nov 18, 2006
10,441
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#31
One would think so, but putting the stock in the public eye and also the government selling it may bring in investor's that would never concider the stock before, I personally wouldn't touch a synthetic made-up stock , it has all the hallmarks of the dreaded "colatrolised debt obligation" (cdo) that brought the financial crisis a few years back.
Its not a stock its a currency :p
 
Likes: mike.
Nov 25, 2011
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art-by-alexa.com
#34
The first bitcoin debit-card system is now in use: http://www.wired.com/2015/11/coinbase-unveils-countrys-first-bitcoin-debit-card

According to Coinbase, the card has been approved for use by anyone living in one of 25 US states. "At the end of the day, what we’re trying to do is make bitcoin easy to use," says Coinbase vice president of business development and strategy Adam White. "We want to make it easy to buy and sell bitcoin, and we want to make it easy to spend. A mainstream debit card based on bitcoin is a key element."
 
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Nov 3, 2015
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#36
^
Same question and one more
Anyone know a reliable bitcoin site to invest?