Diversityfing into Digital Currencies

[AltOptionsLLC]

Hey Traders,

I'm new to this forum but I just realized that there aren't any sections or posts here on digital currencies. Has anyone explored these assets before via Bitcoin or other currencies?

Best,
Marco

 

[ffsear]

I used bitcoin to buy drugs now and then. Thats about all their good for

 

[AltOptionsLLC]

There are many more coins than just Bitcoin and they all serve a different purpose. Theres much less friction trading these assets rather than trading stocks and many times more potential upside.

Heres a list of the top 100 digital currencies with related data:

http://coinmarketcap.com/

 

[AltOptionsLLC]

Bitcoins can also be used to transfer any type of value you wish. Be it one apple stock, an ounce of gold, food stamps, or any data. Its using a system called ColoredCoins that runs on top of the bitcoin network.

http://www.coindesk.com/chain-nasdaq-partnership-pr-stunt/

Nasdaq is using Bitcoin to clear assets for tax purposes.

Bitcoin really isn't used for illicit actives as much as people think. Are a lot of misconceptions that I should probably clear up:

https://en.bitcoin.it/wiki/Myths

 

[Uranus]

Bitcoin gained popularity by buying and selling drugs and child porn on the .onion web. Everything else has been a pump and dump "altcoin" claiming to compete with Bitcoin's popularity. Bitcoin has sense become mainstream and less than 1% own about 80% of the total market. It's a crap shoot. If you are thinking about investing in digital currencies, you are about 5 years late.

 

[AltOptionsLLC]

Bitcoin gained popularity by buying and selling drugs and child porn on the .onion web. Everything else has been a pump and dump "altcoin" claiming to compete with Bitcoin's popularity. Bitcoin has sense become mainstream and less than 1% own about 80% of the total market. It's a crap shoot. If you are thinking about investing in digital currencies, you are about 5 years late.

The same thing could be said about USD as well:

http://content.time.com/time/specials/packages/article/0,28804,1914560_1914558_1914544,00.html

Cash is actually much better than XBT for illicit transactions because its completely anonymous. Bitcoin is completely traceable because all transactions are publicly viewable. I've met with agents from the FBI, IRS, DOJ, and Secret Service and they all agreed that Bitcoin actually makes it easier to identify money laundering activities and illicit internet activity.

The main use of Bitcoin is actually speculation and trading, not purchasing drugs. Most of this trading occurs between CNY/XBT. Data can be found here:

http://coinmarketcap.com/exchanges/volume/24-hour/

There is still much money to be made off of speculation and volatility. One just needs to be familiar with technical trading and it's greatly beneficial to know how to properly use financial derivatives. Just check the XBT price:

http://www.coindesk.com/price/

17% positive increase in the last 30 days; I've been making a killing.