The United States overhauled its regulation of securities exchanges, broker-dealers and other intermediaries in 1934 [1]. Before that, it was not uncommon for random exchanges to (a) run away with peoples' money while claiming they went bankrupt, (b) actually go bankrupt, and (c) leave small investors stranded while big ones cashed out. In other words, all the market dysfunction the cryptocurrency markets took half a decade of unsupervised activity to re-invent.
$19,697 was the high on GDAX, admittedly due to a thin order book. It'll take a bit more effort to get there again ($33m in market buys at the time of writing this.)
Is $33m really a lot if institutional investors want to position themselves before futures become tradeable? For a $10bn hedge-fund (and there are a few of those) that's only 0.3% of assets.
EDIT: As I write this, levels with sell orders of 100BTC often get cleared in less than a second. Probably because people who would sell aren't aware where the price is now but for now, demand seems to clearly dominate.
for reference just one midcap biotech stock i looked at has like $700M in volume in just the first half of the trading day. thats just exectued trade volume; the order book would be much larger
Why are all threads about Bitcoin nuked from the front page? Threads with great discussions disappear in a blink. I'm sure the same will happen to this one.
Fatigue? Half a dozen blockchain related posts hit the front-page every day, more than any other individual topic, and most of the discussions are not that great.
I wish there was more discussion around the technical stuff, especially the things in the pipeline: The lightning network, Schnorr signatures, Hashed TimeLock Contracts, Merklized Abstract Syntax Trees, the Simplicity language, etc.
Add Bulletproofs to the list. I was completely blown away by the fact that so drastic improvement happened to confidential transactions thanks to the hard work of the cryptographers. I just wish Gregory and others would create more videos and maybe even write a book on Bitcoin cryptography, it's our future, but really hard for me to keep up with understanding it.
This--and just about everything else about BTC--makes me question the sustainability of this currency. I think a lot of people are going to lose a lot of money when this all comes tumbling down.
That said, I also had similar feelings when the price was at $1000. Maybe I'm just regretting selling those Bitcoins I had when they were only worth $10 each.
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[ 3.3 ms ] story [ 79.0 ms ] threadEdit: Just been force logged out?
https://www.nytimes.com/2017/12/06/technology/coinbase-bitco...
I googled this but couldn't find anything relevant. Can you give some background/context?
[1] https://en.wikipedia.org/wiki/Securities_Exchange_Act_of_193...
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And the site is awful slow with intermittent Cloudflare error pages.
EDIT, as of 11:48 CST, GDAX is showing 16849 USD per BTC, while the other USD exchanges have gone down to ~15200
EDIT: As I write this, levels with sell orders of 100BTC often get cleared in less than a second. Probably because people who would sell aren't aware where the price is now but for now, demand seems to clearly dominate.
for reference just one midcap biotech stock i looked at has like $700M in volume in just the first half of the trading day. thats just exectued trade volume; the order book would be much larger
Edit: The layout gets funky from time to time and needs a reload though. Probably not helping if they are really being attacked.
> It's not a bubble.
> Why can't people see it's not a bubble?
> I got into bitcoin when it was still $x so I'm holding even though I know its a bubble.
> <Quote from a famous person about a bubble>
> <Link to an article about bubbles>
Here is a summary.
16K baby!
That said, I also had similar feelings when the price was at $1000. Maybe I'm just regretting selling those Bitcoins I had when they were only worth $10 each.
Put your money where your mouth is - screenshot them BTC shorts ;)